KARACHI, Sept 24: Cotton prices fell as the Karachi Cotton Association revised down its spot rate by Rs50 to Rs5,500 per maund on Monday on higher phutti arrivals as its supply had been disrupted for the past few sessions due to the rains, brokers said.

Millers were active as 10,000 bales of cotton were exchanged in Sindh and Punjab at Rs5,350 to Rs5,650.

New York cotton also ended lower as bearish sentiment overcame a market that initially resisted this week’s sell off in commodities.

The following transactions were reported on the ready market on Monday: 1,600 bales, Sanghar at Rs5,500 to Rs5,600, 1,000 bales, Tandoadam at Rs5,500 to Rs5,600, 1,200 bales, Shadadpur at Rs5,500 to Rs5,600, 1,000 bales, Mirpurkhas at Rs5,350 to Rs5,500, 600 bales, Hyderabad at Rs5,400 to Rs5,500, 2,000 bales, Burewala at Rs5,400 to Rs5,650, 200 bales, Gaggomandi at Rs5,400, 600 bales, Arifwala at Rs5,400, 200 bales, Hasilpur at Rs5,500, 600 bales, Bhawalnagar at Rs5,500, 200 bales, Kabirwala at Rs5,600, 400 bales, Vehari at Rs5,590 to Rs5,600, 200 bales, Multan at Rs5,650 and 200 bales, Depalpur at Rs5,650.