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Pakistan:Cotton prices steady |
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2004-9-29
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Pakistan : 28th September 2004 |
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Cotton trading activity at Karachi remained normal on Monday with booking of over 9000 bales while spot rates remained stable to close at Rs 2,090 per maund.
Traders said the normal trend, both in terms of volumes and prices, is expected to continue in the near term. They said spinners in the market continued buying at the start of new week.
“All the factors are normal and there is nothing to suggest that there will be a change in market trend,” said a trader. “The spinners would continue buying hopefully by the end of December.”
They said stability in prices, which continued during the last three days, are likely to continue in the near term despite the fact that supply of new crop has already started reaching the market.
They, however, said the government must ensure that growers get due return on their produce.
On Monday, a total 9,700 of bales were traded, according to a daily market report of Karachi Cotton Association. 400 bales from Sultanabad, at Rs 2,025 per maund, 1000 bales from Sindh at Rs 2,075, 1000 bales from Mirpursakro at Rs 2,000, 200 bales from unreported place of Sindh at Rs 21,25, 600 bales of Tando Adam, at Rs 2,075, 400 bales from Bahawalpur at Rs 2,100, 500 bales of Dera Ghazi Khan at Rs 2,100, 400 bales of Hyderabad at Rs 2,100, 400 bales of Rajanpur at Rs 2,125, 200 bales of Bahawalnagar at Rs 2,100, 200 bales of unreported place of Punjab at Rs 2,100, 400 bales from Chani Goth of Punjab at Rs 2,100, 200 bales of Fazalpur at Rs 2,125, 200 bales of Gojra at Rs 2,100, 400 bales of Jahania at Rs 2,125, 200 bales from Multan at Rs 2,125, 200 bales of Vehari at Rs 2,100, 200 bales of Kabirwala at Rs 2,125, 200 bales of Arifwala at Rs 2,100, 200 bales of S Lund at Rs 2,125 and 200 bales of Kurore Pacca changed hands at Rs 2,090 per maund. |
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