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Related Keywords: better rates compared to current prices, buyers and sellers, Cotton market, entry into the market, fresh selling, ginners showed no interest, no single deal finalized, official spot rate, remained unchanged, Trading Corporation of Pakistan, witnessed wait and see attitude

The cotton market on Thursday witnessed a wait and see attitude from both buyers and sellers after Trading Corporation of Pakistan (TCP)'s entry into the market, dealers said.

According to the market sources, the ginners showed no interest in fresh selling, anticipating better rates as compare to the current prices.

In the Punjab, a very small size of seed-cotton left with the ginners showed no change for inferior type at Rs 3100 while best quality picked up Rs 200 to Rs 3400 while, in the ready business, not a single deal finalized.

Related Keywords: GIDC, official spot rate, Pakistan cotton market, remained unchanged, seed cotton price, spinners buying cotton, trading activity improved, unsold stock

Trading activity on the cotton market on Saturday witnessed improvement as needy spinners indulged in buying cotton to meet their needs. The official spot rate remained unchanged at Rs 5450, dealers said.

In the ready session, over 5000 bales of cotton changed hands between Rs 5400 and Rs 5650, they said. Seed cotton prices in Sindh were at Rs 2600-2700 and in Punjab rates were at Rs 2800 and Rs 2900, they said.

Related Keywords: Karachi cotton exchange, leftover stock of commodity low, next harvesting delayed, Pakistan local cotton market, price surged five month high, prime quality cotton, remained unchanged, spot rate, taking fresh postion, textile mill owners, to buy cotton bales

Prime quality cotton price surged to five-month high at Rs5,340 per maund (37.324 kilograms) at the local markets on Thursday as many textile mill-owners were taking fresh positions in prime quality cotton because of two reasons; one the leftover stock of the commodity was low. Secondly, the next harvesting of the commodity is delayed by two to four weeks.

According to Naseem Usman, a broker at the Karachi Cotton Exchange, the increase in cotton price is seen following a surge of Rs100 per 40kg in phutti (seed cotton).

Related Keywords: active trading, Karachi cotton exchange, low yarn demand, Normal trading, prices of seed cotton, remained unchanged, spot rate, upcountry expenses

Normal trading was seen happening on Tuesday at the Karachi Cotton Exchange, the spot rate also remained unchanged. The spot rate stood unchanged at Rs4,950 per maund (37.324kg) and Rs5,305 per 40kg. Ex-Karachi price also remained the same at Rs5,100 per maund and Rs5,465 per 40kg after addition of Rs150 and Rs160 as upcountry expenses, respectively.

The KCE recorded transactions of around 20,000 bales in the range of Rs4,000 per maund to Rs5,200 per maund.