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Cotton prices remain firm in Pakistan

At Pakistan’s cotton market, prices of all grades of cotton stood firm during the trading session.Around 9,600 bales changed hands.

Leading buyers in Sindh and Punjab stations bought better grade lint on premium prices offered by ginners during the trading session.

Second grade lint for blending purposes is expected to remain in higher demand along with growing demand for fine lint on slightly higher prices by the spinning sector.

Mills and the spinning sector were eager for better quality on the back of its growing end product demand on the domestic and export fronts.

Ginners withholding fine lint were steadfast and not ready to bow down before the buyers' offers since they were confident the price would not go below the spot rate.

Domestic buyers started accepting slightly higher prices as leading millers bought around 360 bales.

Ginners of Punjab offered quality cotton to buyers while ginners of Sindh offered raw lint to buyers.

In Sindh, moderate business has been noticed with around 900 bales of upper Sindh changing hands at Rs 6,600 per maund, about 100 bales of southern Punjab at Rs 6,750 per maund, 200 bales on ex-Karachi basis at Rs 6,550 per maund and 200 bales of upper Sindh selling at Rs 6,450 per maund.

 
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