KARACHI, Nov 22: Trading on the cotton market on Monday resumed on an insipid note as price ideas of buyers and sellers failed to find a meeting ground, but some of the ginners remained active sellers at the lower levels.

Sindh type, notably from the central Sindh cotton belt remained under pressure on active selling by some of the ginners who were not inclined to hold on to their positions in an uncertain future price outlook, dealers said.

Sindh lint was quoted around Rs1,775 to Rs1,900, while that of Punjab at Rs1,900 to Rs2,000 per maund depending on the quality, although leading ginners held on to their positions.

Although, TCP remained active buyer at its officially announced procurement prices for both Sindh and Punjab varieties, fears of further decline in rates owing to higher crop ideas kept ginners and growers at their toes all the time. Weaker among them could not precisely decide how to react to the fast changing cotton scenario, analysts said.

"The TCP tally has already hit the million bales mark, a fair amount to support the market but it failed to infuse confidence among the shaky grower or the ginner", they said adding "bearish future price outlook continued to be a destabilizing factor."

The latest procurement figures up to Nov 20,released by the TCP, its total purchases amount to 0.935m bales including 0.614m bales from the Punjab ginneries and 0.316m bales from the Sindh cotton belt.

However, spinners and mills are taking calculated steps in an effort to contain any further increase in prices and have tuned their daily buying operations in line with this perception, brokers said.

"They enter the market in a big way when prices fall in line with their export parity levels and withdrew to the sidelines after modest rise in prices aided by TCP purchases," they said. "So far spinners seem to be operating in line with their export parity levels.

Official spot rates were firmly held at the last close but in ready section fine lots were traded above them. Ready off-take was modest totalling 15,000 bales changed hands on Sunday. The following being some of the notable deals:

SINDH VARIETY: 400 bales, Mirpurkhas at Rs1,825, 400 bales, Tando Adam at Rs1,820 to Rs1,850.00, 1,000 bales, each Dharki and Gothki at 1,975.00.