MULTAN: Brisk activity was witnessed on the cotton market on Monday amid buying from exporters.

Floor brokers said that trading was improved as exporters made deals of 2,000 bales in Mirpur Khas, Sanghar and Shahdadpur.

They said 42 ginning factories are functional across the country —31 in Sindh and 11 in Punjab.

The rapid increase in phutti (seed cotton) arrivals is expected to boost the number of operational factories 50 by Eidul Fitr, the added.

They said that although the prices on the cotton market are in stress, those of cottonseed have increased from Rs1,275 to Rs1,310. Phutti prices have also remained firm.

The Karachi Cotton Association’s (KCA) spot rates remained unchanged at Rs5,000.

The following deals were made on ready counter: 200 bales Khanewal at Rs5200, 800 bales Mirpur at Rs4750/4900, 400 bales Hala at Rs4875/4900, 400 bales Mirpur Khas at Rs4750, 400 bales Nooriabad at Rs4875/4900, 400 bales Kotri at Rs4875/4900 and 400 bales Tando Adam at Rs4875/4900.

Published in Dawn, July 7th, 2015

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