MULTAN: Prices fell on the cotton market by up to Rs200 on Monday on the back of improved arrivals.

Cotton broker Rana Mujahid said that deals in Sindh took place between Rs6,050 and Rs6,150 while in Punjab between Rs6,100 and Rs6,200.

He said spinning mill owners have lost their interest in trading with the increase in arrivals.

He said arrivals are improving in Punjab and Sindh equally and deals of 12,000 maunds of seed cotton took place in Sahiwal, Chichawatni 11,000 maunds, Burewala 8,000 maunds, Mailsi 15,000 maunds, Mianchunno 9,000 maunds and Pakpattan 10,000 maunds, while a deal of an old stack of 200 bales took place in Mianchannu at Rs6,250.

The Karachi Cotton Association (KCA) revised down its spot rate by Rs100 at Rs6,050. A total of 5,800 bales changed hands across the country, 600 in Punjab and 5,200 in Sindh.

The following deals were finalised on the ready counter on Monday: 1,000 bales Tando Adam at Rs6,025/6,100; 2,000 bales Sanghar at Rs6,025/6,100; 1,000 bales Shahdadpur at Rs6,025/6,100; 1,200 bales Mirpur Khas at Rs6,025/6,100; 200 bales Sahiwal at Rs6,100; 200 bales Haroonabad at Rs6,150; and 200 bales Burewala at Rs6,175.—Correspondent

The following are Monday’s new crop Karachi Cotton Association (KCA) official spot rates for local dealings in Pak rupees for base grade 3 staple length 1-1/32” micronair value between 3.8 to 4.9 NCL.

Published in Dawn, July 22nd, 2014