KARACHI: Trading activity on the cotton market turned slow on Thursday as buyers withdrew to sidelines. The erratic market behavior is in line with the end season trading pattern witnessed every year.

Though demand for quality cotton is still there but with ginners asking high prices, needy spinners have been left disappointed.

Barring a few small lot deals, trading remained slow and prices also slightly came under pressure.

Meanwhile, experts at a talk stressed upon the need for producing quality cotton. The said supply of certified seeds to growers must be ensured. It was also pointed out that the crop size should also be enhanced along with quality, with the goal of producing contamination-free cotton.

The proceedings were also attended by the Textile Commissioner. Many stakeholders expressed their concern over falling size of cotton crop and its quality and demanded of the government to take serious measures to reverse the process.

The world leading cotton markets including New York cotton closed easy but Indian cotton remained on higher side. Demand for Indian cotton from China is keeping prices high.

The Karachi Cotton Association (KCA) spot rates were steady at overnight level.

The following deals were reported to have changed hands on ready counter: 200 bales, station Sadiqabad, at Rs7,800; 400 bales, Yazman, at Rs6,600, 1,200 bales, Lodhran, at Rs6,600; and 300 bales, Bahawalpur, at Rs6,600.

Published in Dawn, April 20th, 2018