Karachi cotton market failed to see any trading activity; in fact officially no deal was recorded. The Karachi Cotton Association (KCA) spot rates also remained unchanged. But it is likely to witness brisk trading activity with the arrival of new crop.
Presently, the Pakistani millers are going through shortage of quality lint as most of the stocks held by ginners are mostly of lower quality from last crop.
Cotton fields have reported that crop in both Sindh and Punjab so far is maturing normally.
However, millers are eagerly waiting for new crop arrival likely to end soon as the new crop from Sindh is expected by the end of this month. However, there is some delay in cotton crop arrival in Punjab due to late sowing.
According to brokers, the heavy monsoon shower and floods might cause damage, otherwise the country could harvest good cotton crop this season.
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