KARACHI, May 22: Cotton prices rose on Wednesday on strong demand from spinners. Confident about expected measures to be taken by incoming government over core issues like power crisis and other economic woes helped revive buying.

The past several weeks witnessed lack of buying interest therefore, persistent fall in prices jolted the cotton industry severely however the renewed buying interest from leading spinners helped to have positive impact on sentiment.

The Karachi Cotton Association (KCA) spot rates were revised upward by Rs107 per 40kg at Rs6,859 (ex-gin).

Trading ready counter was fairly active where spinners rushed to get hold of quality lint.

The following deals were reported to have transpired on Wednesday: 1600 bales, Ghotki, at Rs6,100, 400 bales, Kotri, at Rs6,200, 400 bales, Mirpurkhas, at Rs6,200, 100 bales, Multan, at Rs6,125, 658 bales sold by exporter to mill at Rs5,850, 12,500 bales, Khanpur, at Rs6,500.