KARACHI: Steady conditions prevailed on the cotton market on Saturday as buyers kept looking for quality cotton. The rising cotton prices in world markets influenced trading and prices tended to move upward.
The New York cotton crossed 81 cents mark per lb marking its current season highest, with Indian and Chinese markets following the lead.
Reports of Indian exporters cancelling around 0.4 million bales also pushed the world prices up.
The Karachi Cotton Association (KCA) spot rates were steady at overnight level.
The following deals were reported to have changed hands on ready counter: 600 bales, Ghotki, at Rs8,000; 1,400 bales, D.G. Khan, at Rs7,225-8,000; 200 bales, Liaquatpur, at Rs7,600; 400 bales, A P East, at Rs7,550; and 400 bales, Maroot, at Rs6,900.
Published in Dawn, January 14th, 2018