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Cotton spot rates remain stable

24
Mar '08
The Karachi cotton market remained firm during the past week. Good quality cotton lint traded in a range of Rs. 3,350 to 3,600 per 40 kgs.

The finer lint was traded at slightly higher prices, with spot rates remaining stable at 3,300 during all the trading days of the week.

On reports of firming up of cotton prices in India and US, spinning mills consolidated their positions and the cotton trade exporters made additional purchases.

Prices of cotton seed in Punjab and Sindh traded in a range betweeen Rs. 675-715 per 40 kgs.

Experts are opining of a firming of cotton lint prices on reports of declining stocks.


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