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High cotton prices fail to stem rising demand
28
Jul '08
High quality but lower prices has earned such a good reputation for Pakistani fine lint that business inquiries are pouring in from India and Bangladesh, for quite some time now.

Reports of low yield in the current season has led to price hike; merchants are quite happy with positive outlook of the market and trade deals, during the week starting from July 21-26.

Last week as trading gained momentum, nearly 269,990 bales were sold. With the arrival of fresh cotton, spinners and millers were on their toes. It has been observed that the new cotton has found a firm ground as demands for these were quite high.

Fine lint were traded at Sindh and Punjab at the range Rs3,900 to 4,000 per maund. In fact, last week, rapid increase of spot rate from Karachi Cotton Association failed to stem the high demand.

From July 21 to 24, spot rate at the KCA rose from Rs3,750 to Rs3,925 per mound. However July 25 onwards prices saw a slight stability and stood at Rs3,900 per mound.

For complete quotation of today's price click here

Fibre2fashion News Desk - India

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