KARACHI, Nov 28: Brisk trading was again witnessed on the cotton market on Wednesday as spinners and mills continued to build-up long positions at an average of Rs3,150 per maund.

The last couple of sessions’ mill intake reflects that they are out to grab the entire floating stock of lint below Rs3,200 per maund as it is claimed to be a competitive rate in line with their export parity levels, said a leading floor broker.

“It appears to be an unwritten deal between the spinners and the ginners in an apparent effort to force growers to lower their asking price for phutti,” he added.

Ginners’ decision not to buy phutti from the growers until Dec 1, however, did not deter them to hold on to their unsold positions after having lowered prices modestly by Rs50 per maund, some others said.

“We are not in a hurry to dump phutti at the lower rates below our parity levels after adding the higher cost of inputs,” said a leading grower. “We will comfortably hold on to our stocks up to January as the colour of the phutti remains natural by that time.

Ginners have to oblige us early next month as they have to keep wheels of their factories moving and without us they can’t”, he added.

Market sources said it was a no-win situation for all those associated with cotton trade and they have to cooperate with each other for the collective benefit.

As a result official spot rates were firmly held at the last level of Rs3,075 per maund well below those at which ready business was done.

Mill ready off-take was on the higher side where a total 25,000 bales changed hands, the following being some of the notable deals.

SINDH TYPE: 2,400 bales, Dadu at Rs3,100 to 3,115, 1,200 bales, Khipro at 3,085 to 3,100, 2,000 bales, Shahdadpur at 3,075 to 3,185, and 1,500 bales, upper Sindh at 3,175.

PUNJAB VARIETY: 2,000 bales Bahawalnagar at 3,100, 2,400 bales, Khanpur, 400 bales each Sardar Rind and Kehror Pacca at 3,75.00, 2,000, Alipur at 3,150 to 3,160, 2,000 bales, D.G.Khan, 1,000 bales each, Bahawalpur, Ahmedpur East, Jampur, 800 bales, Muhammadpur Dewan, 400 bales each, Liaquatpur, Khanewal, Galliwal, Sadiqabad, Jalalpur, 600 bales, Garma Raja, at Rs3,150 and 1,000 bales, Rajanpur at 3,150 to 3,200.

Opinion

Respite needed

Respite needed

All one can fear is a familiar accounting exercise that aims to extract a few more rupees from a narrow, weary economic base.

Editorial

Soft on traders
08 Jun, 2026

Soft on traders

THE Fixed Tax Asaan Scheme for traders with an annual turnover of up to Rs200m has been designed as a ‘pragmatic...
Ceasefire in name
Updated 08 Jun, 2026

Ceasefire in name

Both sides accuse the other of violating the truce that was supposed to halt the conflict in April, yet neither appears willing to abandon negotiations altogether.
Damaged childhoods
08 Jun, 2026

Damaged childhoods

CHILD abuse is so prevalent that the UN ranked Pakistan as the least safe country for children. Even so, more than...
JAAC ban
Updated 07 Jun, 2026

JAAC ban

Though the JAAC’s demands are open to scrutiny, banning any political organisation — as long as it remains committed to peaceful activism — is undemocratic.
GB election
Updated 07 Jun, 2026

GB election

It is important that whichever party ultimately forms the government puts the needs of the people of GB above everything else.
ODI win
07 Jun, 2026

ODI win

AT last, the Pakistan cricket team had something to celebrate: a One-day International series victory against...