Pakistan cotton market witnessed some active buying from mills

The Pakistan cotton market on Tuesday amid curtails in supply of seed cotton, causing increase in rate, witnessed some active buying from mills. The official spot rate was higher by Rs 50 to Rs 4,500, while seed cotton prices in Sindh were at Rs 2200 and Rs 2400 and in Punjab rates were at Rs 1800 and Rs 2500, dealers said.

In the ready business, around 15,000 bales of cotton changed hands between Rs 4475 and Rs 4800. The prices moved up slightly due to slight fall in supply of phutti.

Cotton analyst, Naseem Usman said that mills were laying hands over the fine quality as they were busy in replenish their stock to fulfil their short-term needs.

The following deals reported to have changed hands: 200 bales from Khadro at Rs 4480, 1600 bales from Sanghar at Rs 4475-4550, 2000 bales from Shahdadpur at Rs 4500-4575, 400 bales from Golarchi at Rs 4550, 200 bales from Matli, 800 bales from Kotri, 100 bales from Hyderabad, 600 bales from Moro all done at the same rate, 1400 bales from Tando Adam at Rs 4550-4600, 2000 bales from Mirpur Khas at the same rate, 200 bales from Vehari at Rs 4725, same figrue from Shoor Kot at Rs 4750, 800 bales from Khanewal, 200 bales from Bakhar, 600 bales from Chichawatni, 400 bales from Mongi Bangla finalised at the same rate, 600 bales from Pak Pattan at Rs 4750-4800, 800 bales from Burewala at Rs 4800, same figure from Haroonabad, 200 bales from Sahiwal and 400 bales from Theeng Mor done at the same rate.