KARACHI, Oct 1: Trading on the cotton market on Monday resumed on a firm note as spinners and mills were not inclined to sit on the sidelines and lifted all the lots offered for sale by the ginners.

The notable feature was that Sindh lint was again sold at a premium of Rs25 to 50 per maund over its Punjab counterpart as recovery factors dominated the trading and spinners were willing to pay more for the lint on yield percentage basis, floor brokers said.

While Sindh lint was sold around Rs2,900 per maund, but on the other hand most of the deals in Punjab type were done well below Rs2,925 or around it per maund.

However, brisk daily activity around the current rates reflects that prevailing rates suit to both the spinners and the ginners, the important feature being that both the ginners and the growers are not inclined to sit on their unsold stocks, they said.

“No one now cares about the size of the crop, which is one of the major tools that set the price trend, although some negative thinking is building up about the size of the Sindh crop,” said a leading cotton analyst “but it is too early to say something about the shortfall at this stage in the Sindh production figure”.

The size of the total crop will be unofficially available by the middle of the next month and that would set the future price outlook, he added.

Meanwhile, arrivals of phutti into the ginneries of the upper Sindh and the southern Punjab are said to be at their peak but aarivals in the central and lower Sindh have considerably slowed down owing partly to early crop.

Official spot rates were firmly held at the last closing rate of Rs2,875 but in the ready section most of the deals were finalised on quality basis.

Mills ready off-take was maintained on the higher side totaling about 15,000 bales, the following being some of the notable deals: 1,200 bales, Shahdadpur and 1,000 bales, Tando Adam at Rs2,900 to 2,915, 1,000 bales, Sanghar at Rs2,885 to 2,900, 600 bales, Khipro at Rs2,875 to 2,900, and 800 bales, Mirpurkhas at Rs2,865 to 2,900.

PUNJAB VARIETY: 1,000 bales, Khanewal at Rs2,900 to 2,925, 400 bales, Fazal Pur, and Mongi Bangalow at Rs2,900, 600 bales, Hasilpur at Rs2,890, 600 bales, Gaggon and 400 bales, Sahiwal at 2,875, 1,000 bales, Burewala at Rs2,865 to 2,875, 400 bales, PakPattan Rs2,865, 400 bales, each Vehari and Muridwala and 200 bales, Iqbal Nagar at Rs2,850.