KARACHI (January 22 2004): Trading in cotton remained in low profile as prices showed rising trend despite report that production might be more than expected so far, relevant sources said.

The official spot rate was raised by Rs 25 to Rs 3200 without ST and upcountry expenses.

The New York cotton trading also depicted uppish trend as March was up 0.55 cent to 75.27 cents and May up 0.48 cent to 76.38 cents a pound.

Reports appearing in newspapers are painting gloomy picture for the Pak textile exports and those who have made huge investment.

The setback is seen in China also entering aggressively in WTO system from 2005, contrary to the expectation that China was expected in 2008.

Following deals were reported 200 bales of Nawabshah of Rs 3125 (seed stuff) (fresh deal), 2000 bales of Khairpur of Rs 3050, 1000 bales at of Burewala at Rs 3165, 1000 bales of Shahdadpur and 2000 bales of various stations, mill to mill Punjab at Rs 3350.

Courtesy Business Recorder