Pakistan: local market

Further showers and hailstorms have been reported in a few cotton-growing areas over the past few days, causing some crop damage.

Meanwhile, stable conditions have  prevailed in the local market for lint today. New crop arrivals, albeit small in quantity, are attracting increasing interest from mills. However, both ginners and spinners have preferred to trade the limited available supplies rather than selling for later delivery. Mills continue to complain of tough operating conditions and have thus remained relatively cautious in their approach to business. Old crop remnants have been sold on mainly credit terms.

Business for 2023/24 crop lower grade cotton from Sindh has been reported at around Rs. 19,800/20,000 per maund, while that for better grades from Sindh and Punjab has taken place between Rs. 20,300/20,500 per maund, ex-gin.

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