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Rising trend seen in cotton prices on Tuesday with panic buying for quality lint from buyers. With Phutti (seed-cotton) arrivals remaining high, quality issues continue to haunt the textile industry.

Growers have been raising phutti prices against which ginners were forced to increase cotton prices. On ready deals, prices moved higher to Rs6,500 per maund. Resultantly, official rates were also adjusted upward.

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Trading activity remained firm at cotton market as buyers bought better grades of lint on higher than market physical prices during trading session in Punjab and Sindh stations, keeping sellers in the driving seat.

Buyers made deals in better and second grade of cotton on shrinking stocks. Spinners bought second grade of lint at around Rs 6,500-Rs 6,525 per maund, in parts of Sindh and Punjab stations.

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As the day progressed trading activity kept rising on strong demand and flow of buying orders from spinners and exporters kept cotton prices firm on Wednesday. Pakistan is expected to be one of the few countries in the world where cotton consumption would rise this year.

Cotton picking has started in most cotton producing districts of Punjab while many ginning units have also stated their operations. In coming days there is a possibility that higher arrival of phutti (seed cotton) could put cotton prices under pressure.

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The cotton market on Tuesday recorded moderate to active trading with readily available lint allowed steady flow of buying orders, helping many spinners who rushed back to replenish their stock. Renewed buying interest was witnessed. However, due to shortage of quality lots many spinners were unable to get stocks of their choice.

The rising demand helped phutti prices stabilise in the range of Rs2,800-3,000 per 40 kg for both Sindh and Punjab varieties. According to market reports, cotton prices could come under pressure once phutti arrival surges.

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The cotton market on Monday began monotonous as buyers and sellers stayed away. Due to slackness in cotton demand, phutti (seed cotton) prices also remained under pressure and were quoted between Rs2,800-3,000 per 40kg for Sindh quality and Rs2,800-3,050 per 40kg for Punjab variety.

Ginner were holding onto stocks from earlier on since cotton picking activity came to a complete halt over the weekend to mark Ashura. According to a leading cotton broker, it will be a couple of days before trading normalises.

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Strong demand from needy spinners and some exporters pushed lint prices higher and kept trading activity brisk on the cotton market for the second consecutive session on Thursday. Consequently, during second half of the trading session selling pressure checked the rising trend in prices.

However, by and large buyers remained in the forefront and tried to get hold of quality lots. As a result prices moved higher by Rs50 in ready trading. The official spot rates were also revised higher by Rs50 to Rs6,100 per maund.

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The buyers at lint market made deals for better grades of lint paying premium price, while market's sentiments remained steady on forward trading, traders said. Most of the buyers made deals according to their immediate need of lint on back of grade issue and in anticipation of decline in spot rate, they added.

Related Keywords: buyers made deals on slightly higher price, continued at lint market, cotton bales, Dull trading activity, Eid holiday and rains in most parts of stations, forward deals for grade selective, Karachi Cotton Association, majority stakeholders remained on sidelines, price in firm zone, second grade of lint, shrinking fine lint, spot rate

Dull trading activity continued at lint market as majority of stakeholders remained on sidelines on back Eid holiday and rains in most parts of the stations. Buyers made deals on slightly higher price besides forward deals for grade selective and second grade of lint also changed hands, fibre traders said.
Market would become active after Eid holidays, and market buying-interest sentiments would push general prices in green zone while weak ginners to get some strength capitalize on their dealings, traders said.

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During the trading session at cotton market, sustained buying from leading spinners helped cotton prices inch up on Wednesday. Spinners and mills remained quality conscious and made deals on slightly higher prices during the session while leading ginners sensing future demand of quality lint offered thin volumes of better stocks on higher prices to the buyers.

Much of the trading activity remained centered around Punjab variety which is now available in larger quantity due to higher flow of phutti. However, Sindh quality cotton remained in slow demand.

Related Keywords: buyers preferred maintaining inventories, cotton bale, Cotton market, fibre traders, ginning units, KCA, KCE, leading buyers struck down forward deals, made deals for better grades, month period in anticipation, possible increase in better stuff prices, slightly higher price, spot rate

At the cotton market, buyers preferred maintaining their inventories by making deals for better grades on slightly higher price. However leading buyers struck down forward deals for a month period in anticipation of any possible increase in better stuff prices, fibre traders said.

According to senior trader, Ghulam Rabbani, sellers withholding better grades of lint remained in driving seat as buyers were in need of fine grades.
The buying for second grade stuff remained in limelight and deals concluded at around Rs 6,575 per maund to Rs 6,600 per maund.