KARACHI, March 5: The trading activity on the cotton market on Monday resumed on a cautious note as reports of over 10 per cent fall in arrivals of phutti for the month ended March 1, has obliged both the buyers and the sellers to refix their priorities.

Although spot rates were held unchanged by the official rate committee, in physical trading fine lots were again traded around Rs2,625 per maund, brokers said.

The interesting feature of the trading was that some of the central Sindh ginners were out to clear the backlog of unsold stocks including some odd lots at the current higher rates, they said.

But on the other hand those ginners who are holding on bulk of the unsold stock of 1.206m bales, are not that active amid market talk that prices could rise further from the current levels in the weeks to come, they said.

“I don’t think imports could ease the local price situation in the coming weeks as demand and supply factors are expected to play a pivotal role in future price outlook,” predicts a leading ginner and is “holding on to his unsold stock on this perception.”

Meanwhile, spinners and leading mills have curtailed their daily off-take partly owing to problems on the export front followed by reports of falling prices and partly to higher rates.

According to official figures spinners and mills have imported 0.407m bales of lint during the month of January to make up for the local short crop.

As a result, official spot rates were again held unchanged at the weekend level of Rs2,525 per maund.

Ready off-take was modest totaling 10,000 bales, the following being some of the notable deals.

SINDH TYPE: 3,700 bales, fine lots, Gothki at Rs2,625, 2,000 bales , Sanghar at Rs2,475, 541 bales at Rs2,575, and 1,800 bales, Daharki at Rs2,625.

PUNJAB VARIETY: 1,500 bales, Khanpur at Rs2,625.