KARACHI (January 08 2004): Hectic cotton trading was witnessed on Tuesday as spinners mopped up every deal on offer, relevant sources said on Wednesday (January 7).

The official spot rose by Rs 50 to Rs 3300 without ST and upcountry expenses as ginners continued to harbour production estimate around nine million bales.

Meanwhile, the buying support was maintained at high pace, around 23500 bales changing hands at prices ranging between Rs 3000 and Rs 3400 depending on quality.

According to source, the spinners have allegedly booked 150,000 bales and around 10,000 bales have already reached inventories.

Following few deals were noted having been struck on Tuesday: 1500 bales of Khipro at Rs 3000/3100; 1000 Shahdadpur at Rs 3000/3050; 3000 bales of upper Sindh at Rs 3350; 1600 bales of Bahawalpur, and 1600 bales of Yezman Mandi, at Rs 3400 each; 800 bales of YZM at Rs 3300; 5000 bales of Samundri at Rs 3350; 1500 bales of Chishtian at Rs 3025/3100; 2000 bales of RYK at Rs 3100 and 3400; 2000 bales of Haroonabad, and 1000 bales of Sadiqabad at Rs 3200/3250 each; and 2500 bales of Khanpur at Rs 3350.

Courtesy Business Recorder