MULTAN: Trading was moderate on the cotton market on Saturday as spinners kept looking for quality lint. The Karachi Cotton Association (KCA) kept its spot rate unchanged at Rs5,000 a maund.

Floor brokers said increase in load-shedding, from 10 to 12 hours, has put pressure on ginning factories.

They said phutti (seed cotton) arrivals in Sindh are rising with each passing day. In Punjab, the arrivals in July and August will remain less as compared to last year.

“Early cotton sowing in Punjab this year was in trouble due to the change in weather pattern, unavailability of quality seed and pest attack,” said Syed Mudabbir Shah, a cotton broker.

He said the price of phutti was Rs2450 in Badin, Tando Allah Yar Rs2425, Mirpur Khas Rs2400, Umer Kot Rs2380, Jaddo Rs2400, Sanghar Rs2390, Burewala Rs2400, Chichawatni Rs2375 and Pakpattan Rs2415.

The following deals were made on ready counter: 1484 bales of old stock from Khanpur at Rs5550, 200 bales Khanewal at Rs5200, 200 bales Gularchi at Rs4950, 1000 bales Mirpur Khas at Rs4950/5015, 800 bales Sanghar at Rs4975, 200 bales Kipro at Rs4900/4925, 400 bales Tando Adam at Rs4935, 200 bales Hala at Rs4900, 200 bales Nooriabad at Rs4900, 400 bales Shahdadpur at Rs4950 and 200 bales Hafizabad at Rs4895.

Published in Dawn, July 5th, 2015

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