Related Keywords: cotton bales, demand surge for quality lint, officially spot rate increased, Paksitan cotton market, renewed buying witnessed, rise in prices, seed cotton price, shortage of fine quality, small size of high grade lint cotton left with ginners
Pakistan cotton market on Thursday saw rise in prices with demand for quality lint surging, dealers said. According to the market sources, renewed buying was witnessed as small size of high-grade lint cotton was left with the ginners. There was no motivating factor which propelled spinners for new purchasing just shortage of fine quality.
The official spot rate increased by Rs 50 to Rs 5,250. In the Punjab prices of seed cotton were at Rs 2400 and Rs 3000 while in the ready business, over 9,000 bales of cotton changed hands between Rs 5000 and Rs 5600, dealers said.
