MULTAN: Lint prices stayed firm on the cotton market on Thursday as phutti arrivals into the ginneries slowed down due to rains in major cotton producing areas of Punjab, recording Rs50 per 40 kg increase in the seed-cotton prices.

However, the Karachi Cotton Association (KCA) reduced its spot rate by Rs200 at Rs8,100.

Experts said stability in prices will prevail as phutti arrivals have shrunk substantially due to rains in districts of Sahiwal, Toba Tek Singh, Multan, Vehari, Bahawalnagar and Pakpattan.

According to market assessment, cotton rates will not decrease further as the international prices of the commodity recorded a slight increase while local ginners have slowdown their sales.

More rains are is expected in the region.

Phutti prices moved up to Rs4,250 as compare to Wednesday’s Rs4,200.

The following deals were reported to have changed hands on ready counter: 1,400 bales, Shahdadpur, at Rs8,100/8,150; 2,000 bales, Tando Adam, at Rs8,100/8,200; 800 bales, Mirpur Khas, at Rs8,100/8,200; 1,200 bales, Sanghar, at Rs8,100; 1,000 bales, Hyderabad, at Rs8,100/8,150; 600 bales, Kotri, at Rs8,100/8,150; 200 bales, Maqsoodo Rind, at Rs8,150; 1,000 bales, Nawabshah, at Rs8,175/8,200; 800 bales, Vehari, at Rs8,250/8,300; 600 bales, Khanewal, at Rs8,250/8,300; 800 bales, Burewala, at Rs8,150/8,275; 100 bales, Pir Mahal, at Rs8,275; 100 bales, Samundri, at Rs8,225; 800 bales, Haroonabad, at Rs8,200/8,250; and 600 bales, Chichawatni, at Rs8,150/8,100.

Published in Dawn, August 17th, 2018