By admin       2018-04-03

KARACHI: The cotton market witnessed an extremely dull trading session on Monday where buyers and sellers were equally conspicuous by their absence. The off-season period has so far maintained an erratic trading pattern due to shortage of quality cotton and slow demand from big spinners who are now more focused on imported cotton. There was hardly any demand for lint from big spinners but ginners also looked to be in no hurry to dispose of their stocks. Acute shortage of irrigation water is likely to affect the next cotton crop tremendously. According to market reports, cotton sowing in Punjab – which was to start from April 1, 2018 – would not be possible due to acute shortage of irritation water. Cotton sowing in lower Sindh is already suffering due to water shortage. Many growers from Punjab told Dawn that due to shortage of irrigation water, cotton sowing would be delayed and there was little possibility it would start before April 15 or 20. Consequently, many ginners holding current season’s (2017-18) cotton stocks would benefit from the ongoing situation if there is a delay in sowing this year. The excessive heatwave coupled with little irrigation water is reportedly affecting standing wheat crop. The Karachi Cotton Association (KCA) spot rates were firm at week-end level. According to market reports, no cotton transaction was recorded on the ready counter.

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