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Related Keywords: Cotton market, cotton prices touched a record level, Karachi Cotton Association, most deals finalised on high rates, prices tended to move higher, short supply of quality cotton, slow trading activity, spot rates unchanged, widening gap between production and consumption, witness on Saturday

Slow trading activity witness on Saturday at cotton market due to short supply of quality cotton. However, prices tended to move higher and most deals were also finalised on high rates.

Due to strong demand, cotton prices touched a record level of Rs7,300 per maund (around 37 kilograms). Phutti prices also rose to a seasonal high of Rs3,850 per 40kg. Limited stocks of around 900,000 bales held by ginners were insufficient to see the season through because the next crop is not expected before June or July.

The Karachi Cotton Association left its spot rates unchanged.

Related Keywords: activity declined considerably, Buyers taking sidelines, cotton bales, get better price, ginners holding back stocks, KCA, market behaviour firm and steady, meet immediate demand, preferring to indulge in short ccovering, short supply of quality cotton, spot rate steady

With buyers taking to the sidelines and preferring to indulge in short-covering to meet their immediate demand, The market behaviour was firm and steady on Monday, but activity declined considerably due to short supply of quality cotton. However, brokers believed that ginners have started holding back their stocks in order to get better price.