KARACHI, Sept 8: Trading on the cotton market resumed on a firm note as spinners and mills continued to build up long positions amid a loud whispering about a short crop owing to damage caused by the pest attack in the Punjab cotton belt.

“The current month is very crucial for the cotton crop owing to various reasons including pest attack, change of the climate and untimely rain could make or mar the total production,” said a leading cotton analyst.

“If the crop could withstand these negatives, there will be a good quality crop as is currently witnessed in the central Sindh cotton belt,” he added.

The central Sindh medium staple length lint remained again an envy of the spinners because of quality reasons and they purchased big lots between Rs4,175 and Rs4,200 per maund.

Another 30,000 bales changed hands, bulk of it from the Sindh ginneries including big-lots of 4,000 bales, while its counterpart in the central Punjab cotton belt was sold at Rs75 to Rs100 per maund discount.

Floor brokers said the crop in upper Sindh and southern Punjab belt, which is known for its fine quality, is still in flowering boll stage and picking operation there will be resumed by next month and that will give a fair idea about the total crop size.

Meanwhile, some of the leading spinners are also probing the foreign markets after steep decline in the New York cotton futures below 65 cents per lb, which makes imports a bit competitive in view of prevailing local rates.

Official spot rates were firmly held at the last levels but well below those at which ready business is being transacted.

Mill ready off-take was maintained on the higher side amounting to well over 30,000 bales, the following being some of the notable deals:

SINDH VARIETY: 4,000 bales, 3,800, 2,000, 1,000 each 800 and 600, Shahdadpur, Tando Adam, Nawabshah, Shahpur Chakkar, Hala, Sarhari, New Saeedabad and 1,000 bales, Hyderabad at Rs4,175 to Rs4,200, 2,000 bales, Mirpurkhas at Rs4,150 to Rs4,175, 1,000 bales, Khipro and 3,000 bales, Sanghar at Rs4,175.