Related Keywords: fine quality lint, ginners raised asking prices, KCA spot rate, meet requirement, mills rush to secure bales, Pakistan cotton market, prices surged, response to high demand from spinners, TCP, Textile Industry
At cotton market as mills rush to secure bales to meet their requirement ginners has raised asking prices in response to high demand from spinners. There is a moved upwards and prices have surged to Rs6,000/maund, said brokers.
The Karachi Cotton Association rose the benchmark spot rate by Rs75 to Rs5,625/maund.
Reeling from supply problems, many spinners rushed to the market and started panic buying to refill their depleting stocks. Volumes were high with traders bought 11,424 cotton bales at the ready counter.
