Pakistan: local cotton prices remain steady
Stable conditions have prevailed in the local cotton market. As expected, yesterday’s rise in New York futures has added support to domestic rates and ginners have continued to be tight sellers. Furthermore, seed cotton prices have remained firm and growers have not been willing to release stocks below their asking prices.
The bulk of business for Sindh and Punjab lint has been reported in a range of around Rs. 9,000/9,650 per maund, ex-gin, depending on the quality specifications. Mills have covered additional volumes cautiously, trying not to chase prices any higher.
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Posted in: Cotlook Headlines