| Subdued cotton trading despite attractive prices KARACHI (January 17 2004): The trading in cotton continued to lose shine despite the fact that local prices remain attractive for the buyer, owing to (rising) trend in the world, relevant sources said on Friday (January 16, 2004).
The official spot rate of grade III cotton remained unchanged at Rs 3200 without ST and upcountry expenses.
Only about 5000 bales of cotton changed hands at prices between Rs 2900 and Rs 3325 per maund.
The cotton futures in New York rose substantially: March by 0.92 cent to 74.49 and May up by 0.85 cent to 75.70 cents a pound.
Following deals were noted: 600 bales of Sanghar at Rs 2900, 1000 bales of SDK at Rs 3000/3200, 2000 bales of RYK at Rs 3150/3325 and 1000 bales of Bahawalpur at Rs 3150/3250.
Courtesy Business
Recorder
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