Pakistan cotton market witnessed higher demand for better grades

Pakistan cotton market saw higher demand for better grades while lint trading remained range bound. Buyers made cautious deals for all grades during trading session in all stations of Sindh and Punjab. But the majority of leading buyers and sellers remained on sidelines.

According to fibre analyst Shakeel Ahmad, leading buyers were still eyeing on fine grades, while mills made deals for fine grades on competitive price.

The Karachi Cotton Association (KCA) on Thursday kept spot rate unchanged at Rs.4,850 per maund The stakeholders in Punjab stations remained eager for fine grades in order to produce better grades products but power outages and load shedding in textile and ginning units slowed down production capacity.

They were making deals for immediate use and fine grades sellers were in driving seat due to paucity of stuff while KCA remained busy taking steps to provide maximum benefit to the weak stakeholders to capitalise maximum on their stuff, floor brokers said.

However, deals changed hands for all grades on competitive price in Sindh and Punjab stations at around Rs 4,900 per maund to Rs 4,975 per maund. Production of the lint in the ginneries of Sindh and Punjab remained dull at around 600 bales.