KARACHI: Cotton prices on Tuesday moved lower due to higher phutti (seed cotton) arrival and smooth availability of quality lint.

However, much of the activity remained around Sindh variety cotton.

According to market sources, the arrival of phutti from Punjab has yet to gain momentum. Meanwhile, higher availability of quality cotton from Sindh with improved quality drew the attention of buyers as it was available at cheaper rates as compared to Punjab cotton, sources added.

The price difference between Sindh and Punjab varieties narrowed down by Rs100 to Rs150 per maund.

The Punjab quality cotton last week was being quoted at Rs6,700 per maund but now has come down to Rs6,400 per maund.

Similarly Sindh variety cotton was being sold at around Rs6,500 last week has now declined to Rs6,250 per maund.

The New York cotton and Chinese market closed easy on Tuesday while Indian cotton remained steady amid disturbing reports about the crop.

The Karachi Cotton Association (KCA) spot rates were also revised downwards by Rs50 to Rs6,250 per maund.

The following deals were reported on Tuesday: 1,400 bales, Kotri, at Rs6,225 to Rs6,250; 1,600 bales, Mirpurkhas, at Rs6,225 to Rs6,250; 2,000 bales, Hyderabad, at Rs6,225 to Rs6,275; 2,200 bales, Sanghar, at Rs6,225 to Rs6,300; 2,000 bales, Shahdadpur, at Rs6,225 to Rs6,300; 2,000 bales, Tando Adam, at Rs6,250 to Rs6,300; 1,000 bales, Chic­hawatni, at Rs6,350 to Rs6,400; 800 bales, Bure­wala, at Rs6,350 to Rs6,400; 600 bales, Sahiwal, at Rs6,350 to Rs6,400; and 400 bales, Khanewal, at Rs6,350 to Rs6,400.

Published in Dawn, August 16th, 2017