Trade eases at Karachi cotton market

28 Dec '05

1 min read

The Karachi Cotton Association (KCA) spot rate remained static at Rs 2,375 per maund. The cotton market was slack as only about 4000 bales changed hands.

High temperature during summer may casuse a drop in cotton output this year, fear industry insiders yet, cotton production was estimated at 12.7 million bales for the year.

Ginners from Sindh in particular, were active while prominent mills improved their positions, but private sector commercial exporters remained inactive during the session.

Meanwhile, Pakistan Cotton Ginners Association (PCGA) has placed the ex-ginneries estimate of cotton output at 10.41 million bales.

As phutti (seed cotton) kept pilling at the ginning factories in Sindh and Punjab, physical market prices ranged from Rs 2,300 per maund to Rs 2,425 per maund with Sindh quality lint priced at Rs 2,425 per maund.

To stabilize the local lint prices, farmers proposed the government to suspend cotton import for thirty days, said a trader.

According to Karachi Cotton Association, Upper Sindh (2000 bales) traded changed hands at Rs 2425, Shujaabad (200 bales)at Rs 2400, Rohri (200 bales) at Rs 2415, Mirpurkhas (200 bales) at Rs 2400, Khanpur (200 bales) at Rs 2,400 and 200 bales of Nawabshah at Rs 2,400 per maund.

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