MULTAN: The cotton market remained listless on Wednesday as ginners and buyers took to the sidelines owing to shortage of quality lint. The Karachi Cotton Association kept its spot rate unchanged at Rs9,100.

Cotton experts noted that trading activities in domestic and international markets are slow due to the annual vacations in China. The Chinese avoid any trading activities during these long vacations, a source added.

It was being expected that cotton trading and prices will pick up after the announcement of successful negations between China and the US over tariff. However, due to the ongoing holiday season, it will be another week before markets gain momentum.

Market sources said ginners are not in a hurry and will wait till the Chinese start purchasing cotton from the US. However they are worried by the lack of interest being show by growers who do not want to cultivate cotton crop next year.

Phutti (seed cotton) prices in both Sindh and Punjab remained between Rs3,200-4,800. Prices of cotton from Balochistan were quoted between Rs5,000-5,500.

The following deals were reported to have changed hands on ready counter: 600 bales, station Fort Abbas, at Rs8,550 (400 bales) and at Rs8,500 (200 bales); 400 bales, Haroonabad, at Rs8,600; 600 bales, Rahim Yar Khan at Rs9,300; 600 bales (seed quality), Khairpur Maher, at Rs9,400; 200 bales (Balochistan cotton), Dera Ghazi Khan, at Rs9,550; 200 bales, Khanewal, at Rs8,200; and 400 bales, Bahawalpur, at Rs8,550.

Published in Dawn, January 23rd, 2020

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.