Trading activity at cotton market witnessed steady trend

Renewed buying interest at the cotton market helped the rates to keep present levels in the process of trading on Wednesday, as per dealers. At the Karachi Cotton Exchange, active trading was recorded, while spot rates remained unchanged at Rs6,600/maund (37.324kg) and Rs7,073/40kg. Ex-Karachi rates also remained unchanged at Rs6,745/maund and Rs7,228/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

In Sindh, seed cotton prices were same at Rs 2800-3350, in the Punjab, rates were at Rs 2800-3500, as per 40 kg, dealers said.

The following deals were reported to have changed hands: 1000 bales from Ghotki at Rs 7000, 1200 bales from Rohri at Rs 6550/6600, 1200 bales from Saleh Pat at Rs 6600/6800, 600 bales from Khanpur Meher at Rs 7000, 600 bales from Shahdadpur at Rs 6200/6300, 800 bales from Tando Adam at Rs 6250/6350, 400 bales from Kazi Ahmed at Rs 6200/6350, 4400 bales from Rahim Yar Khan at Rs 6850/7000, 2800 bales from Sadiqabad at Rs 7000, 1200 bales from Mian Channu at Rs 6600/7000, 1200 bales from Khanpur at Rs 6850/7000, 3400 bales from Mianwali at Rs 6450/7000, 1000 bales from Shujabad at Rs 7000, 1000 bales from Alipur at Rs 6900, 1000 bales from Sehehar Sultan at Rs 6900, 200 bales from Tonsa Sharif at Rs 6900, 1400 bales from Layyah at Rs 6775, 600 bales from Fazilpur at Rs 6750, 200 bales from Gojra at Rs 6725, 1000 bales from Maroot at Rs 6600/6675, 1400 bales from Hasilpur at Rs 6500/6650, 200 bales from Jalalpur at Rs 6650, 1200 bales from Bahawalpur at Rs 6600/6625, 1200 bales from Yazman Mandi at Rs 6600/6625, 200 bales from Chistian at Rs 6600, 8600 bales from Haroonabad at Rs 6500/6550, 200 bales from Shorkot at Rs 6475, 2200 bales from Faqirwali at Rs 6450 and 1800 bales from Burewala at Rs 6400.

Notable deals were recorded from Ghotki, Rohri, Saleh Pat, Rahimyar Khan, Sadiqabad, Mian Channu, Khanpur, Mianwali, Shujabad, Alipur, Shehar Sultan, Layyah, Maroot, Hasilpur, Bahawalpur, Yazman Mandi, Haroonabad, Faqirwali and Burewala. ï‚¢

According to experts, lack of quality lint propelled mills and spinners to keep buying to replenish their stock. Cotton analyst, Naseem Usman said that the Plant Protection Department (PPD) has waved a ban on import of Indian cotton. All Pakistan Textile Mills Association (APTMA) was seeking a removal of ban to meet requirements,