MULTAN: Steady conditions prevailed on the cotton market on Saturday amid sustained demand for quality lint.

Cotton brokers said the market witnessed moderate activity as ginners preferred to unload their stocks. As many as 13,000 bales exchanged hands. Deals of some 6,000 bales took place in Punjab.

There are reports of severe whitefly and jassid attacks on cotton crop in areas which received rains before Eidul Azha.

Sources said farmers were not tending the crop carefully and made little effort to combat pest attacks due to the decline in prices ahead of Eid. The pest attacks will eventually affect overall cotton production.

Phutti (seed cotton) prices were quoted in the range of Rs3,850 to Rs4,400 per 40kg.

The Karachi Cotton Association kept its spot rate unchanged at Rs8,100 per maund.

The following deals were reported to have changed hands on the ready counter: 600 bales, Samundri, at Rs8,325/8,350; 600 bales, Khanewal, at Rs8,400; 800 bales, Gojra, at Rs8,350; 1,000 bales, Sanghar, at Rs8,200/8,250; 1,200 bales, Shahdadpur, at Rs8,200/8,250; 800 bales, Mirpur Khas, at Rs8,200; 1,600 bales, Tando Adam, at Rs8,200/8,250; 1,000 bales, Hyderabad, at Rs8,200; 200 bales, Sarhari, at Rs8,200; and 400 bales, Kotri, at Rs8,200.

Published in Dawn, August 26th, 2018