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Pakistan cotton market saw prices dropping unassumingly

YarnsandFibers News Bureau 2014-07-08 15:00:00 – Pakistan

Some trading activity was seen on the cotton market with price dropping unassumingly on Monday in the process of improved activity; Mills showed some interest in new purchasing with supply position eased.

 

Most of the buyers were not in a hurry to make fresh deal in anticipation of fall in prices.

 

The official spot rate was lower by Rs 50 to Rs 6,300. While, the prices of seed cotton from Sindh at Rs 3300 and Rs 3350, and in the Punjab rates were at Rs 3200 and Rs 3250. In the ready session, about 6000 bales of cotton were sold at Rs 6275-6550.

 

The following deals exchanged hands : 400 bales from Tando Mohammad Khan at Rs 6275-6300, 600 bales from Kotri at Rs 6275-6350, 1400 bales from Sanghar at Rs 6275-6350, 200 bales from Khipro at Rs 6250, 600 bales from Shahdadpur at Rs 6300-6350, 1200 bales from Mirpurkhas at Rs 6300-6400, 400 bales from Hyderabad at Rs 6300-6350, 1000 bales from Tando Adam at Rs 6300-6350 and 200 bales from Burewala done at 6550, dealers said.

 

In Punjab, seed cotton arrivals started with slow pace. Quality is not so good, but buyers are hoping that variety will show improvement in time to come.

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