| Bullish trend in cotton market KARACHI (January 03 2004): Cotton market witnessed good business, despite expected jump in prices, and spinners realising
they can save if further raise is effected, relevant sources said on Friday.
The official spot rate of cotton was raised by Rs 50 to Rs 3275 without ST and upcountry expenses. The revision upward was
due in view of the bullish trend in international rates.
Fresh deals noted today were around 2400 bales, all belonging to Punjab, at higher prices between Rs 3050 and Rs 3400.
The reports are upbeat about exports reaching around $12 billion, cotton and textile sectors contributing maximum, as usual.
However following deals were noted: 400 bales of Shahpur Chakar at Rs 3050; 400 bales of Shujabad, and 600 bales of RY Khan
at Rs 3400 each; 600 bales of Chani Goth at Rs 3275; and 400 bales of Yezman Mandi at Rs 3250.
Courtesy Business
Recorder
|
