Prices not softening on cotton market despite increased phutti arrivals

August 28, 2012:  Despite continued rise in phutti arrivals, prices maintained firmness on the cotton market on Monday, dealers said. Official spot rate was unchanged at Rs 5850, they said. In the ready business, nearly 14,000 bales of cotton changed hands between Rs 5800-6150 (credit), they said.
The prices of seedcotton in Sindh were down by Rs 75 to Rs 2425-2525 and in the Punjab low type was lower by Rs 100 to Rs 2500 while the best quality was unchanged at Rs 2650, they added. According to the market sources phutti arrivals are on full swing, it may play a vital role in bring down the rates in near future. Naseem Usman said in Sindh rains are expected and this factor is likely to hit the quality or impair supply position.

The following deals were reported: 2000 bales of cotton from Shahdad Pur sold at Rs 5800-5850, 2400 bales of cotton from Sanghar at Rs 5800/5850, 2000 bales of cotton from Mir Pur Khas at Rs 5800/5850, 800 bales of cotton from Hyderabad at Rs 5800/5850, 1800 bales of cotton from Tando Adam at Rs 5800/5850, 1000 bales of cotton from Chichawatni at Rs 5850/6000, 200 bales of cotton from Ahmed Pur at Rs 5900, 200 bales of cotton from Chistian at Rs 5900, 200 bales of cotton from Hasil Pur at Rs 5900, 400 bales of cotton from Vehari at Rs 5900, 600 bales of cotton from Arif Wala at Rs 6000, 200 bales of cotton from Gajjo Mandi at Rs 6000, 200 bales of cotton from Sahiwal at Rs 6000, 200 bales of cotton from Tiba Sultan at Rs 5950, 1000 bales of cotton from Burewala at Rs 6000/6100, 200 bales of cotton from Jahanian at 5950, 200 bales of cotton from Hasil Pur at Rs 6150, (Credit).

 

Courtesy: BR

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