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KCA registers fall in cotton prices
30 Dec '05
1 min read
Karachi cotton market saw average business with about 8000 bales traded on December 28, 2005. The Karachi Cotton Association (KCA) spot rate dropped Rs10 per maund to Rs2360 per maund.
Decreasing demand from mills is responsible for fall in prices. Major spinners made deals in fine lots during the session trader sources informed, apart from declining domestic and foreign demand for textiles and cotton over the last past few weeks.
Large unsold stocks lying with the ginneries was also atributed for the price retreat.
Ginners were forced to dispose their stocks at buyers prices.
Commercial exporters were passive while ginners from Sindh lost patience and sold their cotton at below par rates.
Spot prices at KCA ranged between Rs2300 to Rs2400 per maund.
Sindh variety sold at over Rs2370 per maund while Punjab's quality lint changed hands at Rs2400 per maund.
According to KCA sources, Ahmadpur East (1000 bales) sold at Rs2400, Bahawalpur (1,000 bales) at Rs2400, 400 bales of Hyderabad at Rs2325, 800 bales of Lodhran at Rs2400 and 2000 bales of Uch Sharif sold at Rs2400 per maund.
Decreasing demand from mills is responsible for fall in prices. Major spinners made deals in fine lots during the session trader sources informed, apart from declining domestic and foreign demand for textiles and cotton over the last past few weeks.
Large unsold stocks lying with the ginneries was also atributed for the price retreat.
Ginners were forced to dispose their stocks at buyers prices.
Commercial exporters were passive while ginners from Sindh lost patience and sold their cotton at below par rates.
Spot prices at KCA ranged between Rs2300 to Rs2400 per maund.
Sindh variety sold at over Rs2370 per maund while Punjab's quality lint changed hands at Rs2400 per maund.
According to KCA sources, Ahmadpur East (1000 bales) sold at Rs2400, Bahawalpur (1,000 bales) at Rs2400, 400 bales of Hyderabad at Rs2325, 800 bales of Lodhran at Rs2400 and 2000 bales of Uch Sharif sold at Rs2400 per maund.
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