|
Main Page
|
 |
|
News Channel |
|
Needy spinners lift 5000 bales at cotton market
KARACHI (April 28
2004): Needy spinners lifted nearly 5000 bales of
cotton on Tuesday as prices were low enough to
suit their export parity relevant sources said.
The real hitch which spinners these days have is
the fast evaporating quality cotton and high
prices, they added.
The official spot rate of grade III cotton was
unchanged at Rs 2850, without ST and upcountry
expenses.
New York cotton futures turned mixed. May gained
0.23 cent to 64.18 and July shed sharply 1.63
cents to 62.17 cents a pound.
In ready, nearly 5000 bales of cotton changed
hands at prices between Rs 2100 and Rs 3025 per
maund.
The ginners have hurled a veiled threat to the
spinners, saying that next season's ginning would
be started late by one month. The spinners might
thus expedite buying cotton to continue covering
their requirements.
Following deals were reported: 400 bales of Gojra
at Rs 2100; 1000 bales of Buchehri at Rs 2850;
1000 bales of Nawabshah at Rs 3000/3025; 200 bales
of Kabirwala at Rs 3025; 200 bales of Kachalo at
Rs 3025; and 400 bales of Ahmedpur at Rs 3000.
Courtesy Business Recorder
|
|
|
|
|
Pakissan.com; Advisory Point
|
|
