Steady trend on cotton market

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MULTAN : Steady trend was witnessed on the cotton market on Monday as mills remained active buyers.

A total of 9800 bales of cotton changed hands. The Karachi Cotton Association (KCA), however, maintained the official spot rates unchanged.

On physical trading, prices moved up by Rs50 to Rs100. However, there was no change in the Karachi Cotton Association (KCA) spot rates which remained at Rs6500 per maund, said a broker.

He said that rains were expected with the beginning of new month that are likely to continue till Eid and in this situation, panic trade is also expected.

A total of 9800 bales were exchanged across the country, out of which 3200 bales were exchanged in Punjab and 8600 bales were exchanged in Sindh.

The following transactions were reported on the ready counter on Monday:

SINDH TYPE: 2000 bales, Sanghar at Rs6600/6650, 2000 bales, Mirpur Khas at Rs6600/6650, 400 bales, Kotri at Rs6625,1600 bales, Tando Adam at Rs6600/6650, 600 bales, Hyderabad at Rs6600/6625 and 2000 bales, Shahdadpur at Rs6600/6650.

PUNJAB VAREITY: 200 bales, Khanewal at Rs6600, 1000 bales, Borewala at Rs6600/6700, 400 bales, Chichawatni at Rs6600, 200 bales, Chishtian at Rs6600 and 200 bales, Multan at Rs6600, 400 bales, Gaggo Mandi at Rs6600, 200 bales, Mailsi at Rs6575 and 600 bales, Vehari at Rs6600/6625.



Courtesy: Dawn


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