KARACHI: Revival of buying interest from some needy textile spinners helped in generating activity on cotton market on Thursday.

The renewed buying interest could be attributed to the fact that many buyers rushed to replenish their stocks with quality cotton.

The global factors remained unchanged and most of the leading cotton markets closed easy.

Meanwhile, phutti (seed-cotton) supplies are fast dwindling and the third and last picking is almost at its fag-end because very little unpicked cotton is left in the fields.

The Karachi Cotton Association spot rates remained unchanged at Rs8,600 per maund.

Due to revival of buying interest, trading volume on the ready counter increased manifold and following deals were reported to have changed hands: 200 bales from Ghorki were done at Rs8,750; 2,600 bales, Mirpur Mathelo, at Rs8,900; 400 bales, Masqoodo Rind, at Rs7,000; 600 bales, Khanpur, at Rs8,800; 400 bales, Rahimyar Khan, at Rs8,725; 400 bales, Lodhran, at Rs8,500; 600 bales, Alipur, at Rs8,600; 200 bales, Shujabad, at Rs8,100; 400 bales, Bahawalpur, at Rs8,000 and 600 bales from Haroonabad were done at Rs7,300.

Published in Dawn, February 15th, 2019