By admin       2016-11-12

Prices moved up slightly on the cotton market on Friday in the process of strong buying by mills and spinners, dealers said. The official spot rate was firm at Rs 5950, dealers said. In Sindh, seed cotton prices were at Rs 2200-3150, they said, in Punjab, phutti rates stayed put at Rs 2900 and Rs 3300, as per 40 kg, they added,In ready business, over 47,000 bales of cotton changed hands between Rs 4300-6275, they said. Some analysts said that reports about tight supply pushed rates higher marginally. Cotton analyst, Naseem Usman said that local prices are firm in line with the international track. It is most likely that rates depict further rise in the coming days, he said. China was taking interest in new deals, which is causing stability in the rates, other experts observed.Adds Reuters: Cotton futures were up over one percent on Thursday, their biggest one-day rise in nearly four weeks, fuelled by buying from China. The following deals reported: 1000 bales from Mirpurkhas at Rs 4300, 1400 bales from Sanghar at Rs 5200/5500, 200 bales from Tando Adam at Rs 5500, 400 bales from Nawabshah at Rs 5700, 3000 bales from Khairpur at Rs 5900/6000, 1800 bales from Salehpat at Rs 6050, 1600 bales from Rohri at Rs 6050, 400 bales from Pano Aqil at Rs 6200, 400 bales from Khanpur Mehar at Rs 6200, 1400 bales from Dharki at Rs 6200/6225, 1000 bales from Ghotki at Rs 6200/6225, 4400 bales from Mianwali at Rs 5900/5950, 600 bales from Burewala at Rs 6090, 600 bales from Rajanpur at Rs 6150, 400 bales from Mianchano at Rs 6150, 1000 bales from Layyah at Rs 6150, 400 bales from Dera Ghazi Khan at Rs 6150, 400 bales from Tonsa Sharif at Rs 6150, 1200 bales from Chistian at Rs 6150, 600 bales from Shadan Lund at Rs 6150, 1200 bales from Hasilpur at Rs 6150/6175, 800 bales from Haroonabad at Rs 6150/6175, 1400 bales from Faqirwali at Rs 6150/6175, 1000 bales from Fort Abbas at Rs 6150/6175, 3000 bales from Ahmedpur at Rs 6150/6200, 400 bales from Jalalpur at Rs 6165, 400 bales from Mohammadpur Dewan at Rs 6165, 600 bales from Lodhran at Rs 6175, 400 bales from Duniapur at Rs 6175, 200 bales from Ghazighat at Rs 6175, 4800 bales from Rahim Yar Khan at Rs 6175/6200, 4200 bales from Sadiqabad at Rs 6175/6200, 1000 bales from Liaquatpur at Rs 6200, 200 bales from Feroza at Rs 6200, 400 bales from Khanpur at Rs 6200, 400 bales from Chani Goth at Rs 6200 and 1600 bales from Bahawalpur at Rs 6200/6275, dealers said

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