News Tags

Related Keywords: against limited stocks, Cotton prices surged, cotton stocks are reducing day by day, ginners striving to get highest prices, Indian cotton prices recorded, Karachi cotton exchange, short supply, slack demand from mills, slower exports, spot rates remained unchanged, strong buying from spinners

Cotton prices surged on Wednesday on the back of strong buying from spinners and short supply. At Karachi Cotton Exchange, spot rates remained unchanged.

The spot rates stood firm at Rs6,750/maund (37.324kg) and Rs7,234/40kg. Ex-Karachi rates also remained intact at Rs6,885/maund and Rs7,379/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

Related Keywords: despite strong demand from spinners, Ginners demanded higher prices, ginners reluctant to dispose of stocks, influenced by soaring world cotton prices, KCA, prevailing prices, spot rates remained unchanged, Trading activity remained dull at cotton market

Trading activity remained dull at cotton market on Tuesday as ginners were reluctant to dispose of their stocks at prevailing prices, despite strong demand from spinners. Ginners were demanding higher prices influenced by soaring world cotton prices.

However, spinners were unwilling to pay high prices to avoid compromising their competitive edge. The shortage of quality cotton and limited stocks of unsold cotton with ginners also impacted trading.

The Karachi Cotton Association (KCA) spot rates remained unchanged.

Related Keywords: ahead of PCGA fortnightly report, China plans to cut production, cotton bales, indulged in fresh buying, leading buyer, market sources, Pakistan cotton market, seed cotton, Spinners, spot rates remained unchanged, trading activity improved

With some leading buyers indulged in fresh buying ahead of the Pakistan Cotton Ginners Association (PCGA) fortnightly report due shortly, trading activity on the cotton market witnessed improved on Wednesday, according to market sources.

In the ready business, about 4000 bales of cotton changed hands between Rs 4700 to Rs 5600, dealers said.

However, the official spot rate remained unchanged at Rs 5,350. While, in Sindh, prices of seed cotton remained between Rs 1600 and Rs 2800, in the Punjab, rates were at Rs 2000 and Rs 3000.