MULTAN: Cotton prices on Friday improved in view of a sizeable decrease in phutti (seed cotton) arrival from Sindh and Punjab.

An increase of Rs25 was recorded in phutti prices and Rs100 in lint prices. The Karachi Cotton Association however decreased its spot rate by Rs100 to Rs8,000.

Brokers said cotton picking has slowed down due to rains in some areas of Sindh.

“Many farmers are opting not to sell the crop because Eidul Ahza is near. They made good deals earlier which left them with sufficient funds for Eid shopping. Right now, less rates for the commodity are unattractive for them,” brokers added.

There are chances that prices will increase after Eid as rates have improved in international markets while cotton arrival from fields will decrease further.

Phutti prices were quoted in the range of Rs3,800 to Rs4,275.

The following deals were reported to have changed hands on ready counter: 200 bales, Jhol, at Rs8,050; 800 bales, Mirpur Khas, at Rs8,025/8,100; 1,200 bales, Hyderabad, at Rs8,050/ 8,100; 2,000 bales, Sanghar, at Rs8,000/8,100; 3,800 bales, Shahdadpur, at Rs8,000/ 8,100; 1,200 bales, Kotri, at Rs8,100; 3,000 bales, Tando Adam, at Rs8,100/ 8,150; 400 bales, Nawabshah, at Rs8,150; 600 bales, Haroon­abad, at Rs8,200/8,300; 400 bales, Vehari, at Rs8,200/ 8,300; and 400 bales, Burewala, at Rs8,200/8,300.

Published in Dawn, August 18th, 2018