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Cotton trading range bound as ginning activities resume in Sindh
16
Sep '11
Cotton trading in Karachi, the commercial capital of Pakistan, remained range bound on Thursday, as ginning activities resumed in Sindh after rains.

While the spot rate of cotton was firm at PKR 7,400 per maund, physical prices remained in the range of PKR 7,500 per maund, according to traders at Karachi Cotton Association (KCA). The price of cottonseed was between PKR 2,100 per maund to PKR 3,200 per maund depending on grade.

Nearly 70 spinning units in Sindh region resumed their ginning operations after rains.

The buyers, however, faced grade problem owing to persistent wet conditions and second grade lint was sold in the range of PKR 6,700 per maund to PKR 6,800 per maund. Exporters postponed their cotton procurement due to grade problems.

Nearly 750,000 bales of cotton was received by Sindh stations before rains, and a lot more cottonseed arrival is expected in Sindh and Punjab.

Owing to the issue of grade, the Sindh-based ginning units will have to purchase cottonseed from Punjab for blending.

Fibre2fashion News Desk - India

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