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Related Keywords: cotton bales, India cotton price stable, meet requirements, official spot rate, positive factor causing rise in buying cotton, ready business, resulted in higher polyester yarn price, rise in oil prices, spinners doing urgent buying of quality lint, strong demand, Trading activity at cotton market, witnessed improvement

Trading activity at cotton market on Wednesday witnessed further improvement with spinners doing some urgent buying of quality lint to meet requirements, dealers said. Besides, rise in oil prices resulted in higher polyester yarn prices by Rs 2 per kg, this is a positive factor which is causing rise in buying of cotton.

The official spot rate unchanged at Rs 5,200 while the Punjab prices were at Rs 2400 and Rs 3000. In the ready business, over 6,000 bales of cotton changed hands between Rs 5000 and Rs 5550, dealers said.

Related Keywords: cotton inventories, cotton trading, Karachi Cotton Association, mill owners, new sales order, Pakistan cotton market, regular production operation going, resumed buying, spot rate, witnessed improvement

Pakistan cotton market witnessed improvement in the trade of cotton to 4,349 bales as the mill owners were back to the local markets purchasing cotton to keep their regular production operations going.

In fact, the mill owners resumed buying when their cotton inventories reduce next to nil, or they receive new sales orders.

According to the Karachi Cotton Association (KCA), traders bought a total of 4,349 bales at Rs3,450 to Rs4,950/maund (37.324 kilograms)as compared to 2,200 bales bought at Rs4,950/maund a day ago.