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Some movement seen on cotton market
KARACHI (April 23
2004): Some movement was marked on the cotton
market on Thursday as buyers lifted respectable
quantity from both Sindh and Punjab as they found
prices quite feasible, sources said.
The official spot rate was not ventured in to be
raised marking the spinners determination not to
provide ginners any opportunity to raise the
asking prices. The spot rate was put at Rs 2,850
without sales tax and upcountry expenses.
In ready, nearly 4,000 bales of cotton from both
the provinces were on offer and were lifted at the
rate of Rs 2,600 to Rs 3,000.
The sources said that players, ginners and
spinners are in a position to hold on until prices
look in their favour.
FOLLOWING DEALS WERE NOTED: 1,600 bales of
Khanewal at Rs 3,000, 800 bales of Mehrabpur at Rs
2,600, 1,000 bales of Daherki at Rs 2,900 and 600
bales of Salehput at Rs 2,650.
Courtesy Business Recorder |
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Pakissan.com; Advisory Point
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