The Post, Pakistan
Commerce Reporter
KARACHI: Trading improved at the Cotton Market with the arrival of fresh phutti but at a slower pace. The KCA sources said here Sunday that the trading had been dull. However, with the arrival of fresh phutti it has improved to some extent.
However, the sources said that it was still limping and not yet to its normal business. The spinners and the millers were still waiting for big arrivals. They felt that the arrivals at the present level was just insufficient and needs improvement.
The ginners and the growers were sure that with the arrival of fresh phutti they will be able to have better deals. However, they were not keen to dispose of their pending stock.
The sources said presently there were not big stocks in pending. Whatever bales had been available was being taken out gradually by the needy. In all about 3000 Lint bales could be traded about 1,000 from Sindh, traded at the rate of Rs 3,775 per maund. While about 2000 bales were transacted from Punjab in the price-range of Rs 3,650 to 3,700 per maund, depending on the quality of lint.
The price committee, which met here, after reviewing the market situation, decided to further reduce the prices of Lint. Accordingly, the Committee decided to fix the prices at Rs 3,912 per maund, while the rates for official spot would be Ra 3,650 per 40/kg.
The committee said that the prices had to be adjusted in accordance with the ‘Law of demand and supply’. However, they expected that the price-trend would depict upward trend with the arrival of fresh phutti in large quantity
