MULTAN: Slow trading activity was witnessed on the cotton market on Thursday ahead of Eidul Fitr holidays.

Experts said that due to unavailability of transport, activity on cotton market was sluggish.

They said that there are chances that as many as ten ginning factories in Punjab and 25 in Sindh will become functional right after Eid.

Cotton arrival from various districts in Sindh has begun while picking has also started in some areas of Punjab including Sahiwal and Hasilpur.

Meanwhile, sources said as many as 42 ginning factories are working in Afghanistan while the installation of ten more factories is underway.

During the cotton season 2017-18, about two million bales of Afghan cotton reached Pakistan. Cotton sowing area in Afghanistan is increasing and there are chances that about 3 million bales will reach Pakistan this year.

The Karachi Cotton Association kept its spot rates unchanged.

Phutti prices in Sanghar were at Rs4,050; Chuhar Jamali at Rs4,000; Thatha at Rs4,050; and Badin at Rs4,025. Total arrival was about 900 maund.

The following deals were reported to have changed hands on ready counter: 400 bales, Liaquatpur, at Rs7,200; 218 bales, Alipur at Rs7,100; and 310 bales (low quality), Lodhran, at Rs6,200.

Published in Dawn, June 15th, 2018