KARACHI: Buying interest picked up at the cotton market on Tuesday, though prices generally remained steady with focus on quality lint.

As the hope of getting cotton consignments from India in near future is fading away, many textile spinners are now replenishing their inventories from domestic stocks.

As the current cotton season is nearing its end, some apprehensive millers are actively procuring quality cotton to meet their seasonal demand.

Arrival of phutti (seed cotton) from cotton fields into ginning factories has slowed down as the third and final picking is also fast reaching its end, brokers said.

The world cotton markets were mixed, with New York cotton closing easy. India and Chinese cotton markets were mixed.

The Karachi Cotton Association (KCA) spot rates were firm at overnight level of Rs8,600 per maund.

The following deals were reported to have changed hands: 6,600 bales, station Rahim Yar Khan, at Rs8,200-8,800; 200 bales, Taunsa Shareef, at Rs8,600; 1,200 bales, Mianwali, at Rs8,100; 200 bales, Kasowaal, at Rs8,000; 400 bales, Ahmedpur East, at Rs8,000; 400 bales, Burewala, at Rs8,000; 200 bales, Lodhran, at Rs8,000; 1,400 bales, Khanewal, at Rs7,950; 1,200 bales, Haroon­abad, at Rs7,400-7,700; and 400 bales, Pir Mehal, at Rs7,000.

Published in Dawn, March 6th, 2019