By admin       2018-04-27

The trade activity came down on the cotton market on Thursday due to short supply of lint cotton, dealers said. The official spot rate was unchanged at Rs 7500, they added. In both Sindh and Punjab, seed cotton prices were at Rs 2800-3100, they said. In the ready session, around 3000 bales of cotton changed hands between Rs 6430-7750, they said. Market sources attributed the fall in volume of business to non-availability of fine quality cotton. Buyers want to lay hands over the best quality to replenish their stock to meet export consignment. Due to shortage of fine quality, country imported cotton from other countries to meet demand, they said. Cotton analyst, Naseem Usman said that different crops particularly wheat and cotton sowing were facing shortage of irrigation water. Non-availability of basic requirements may be a hurdle in the way of achieving the target for the coming season, other experts said. Reports showing that cotton prices were higher in the international markets, they said. The following deals were reported: 400 bales of cotton from Khanpur at Rs 7750, 200 bales from Liaquatpur at Rs 7500, 800 bales from Yazman Mandi at Rs 7500, 323 bales from Sadiqabad at Rs 7400/7500, 304 bales from Rahim Yar Khan at Rs 7200, 200 bales from Fort Abbas at Rs 7000 and 400 bales from Dharanwala at Rs 6430, they said.

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