Related Keywords: boosted rates, Cotton market, Karachi cotton exchange, mills and spinners, PCGA, spot rate, Thin business activity, tight supply of quality lint, world commodity market
Thin business activity was seen as mills and spinners were disappointed owing to tight supply of best quality lint which boosted the rates as the result they were unable to make deals on the cotton market on Monday, dealers said.
The official spot rate was unchanged at Rs 5000, dealers said. In the ready session, over 4,000 bales of cotton changed hands between Rs 4625 and Rs 5275, they said. The prices of seed cotton in Sindh were at Rs 1900 and Rs 2350 and in Punjab rates were at Rs 2000 and Rs 2650, they said.
