KARACHI (March 19 2004): Spinners appeared quite optimistic about the ruling low cotton prices and did not spare any lot that was put on offers, relevant sources said.

The official spot rate of cotton remained put at Rs 2,950 without ST and upcountry expenses.

In ready such huge purchases as around 12,000 bales traded after weeks, sources said. The price range was between Rs 2,750 and Rs 3,100.

Cotton consultant Naseem Usman said that buying is likely to continue as the availability and price trend is clear. The buyers can now plan with ease.

FOLLOWING DEALS WERE NOTED: 500 bales of Shahpur Chakar at Rs 2,750; 1,000 bales of Yarolund at Rs 3,000; 1,000 bales of Rohri at Rs 3,000; 800 bales of Ghotki
at Rs 3,000; 1,400 bales of Rahimyar Khan at Rs 3,050, and 1,670 bales at Rs 2,975; 4,700 bales of Multan at Rs 3,060/Rs 3,100 and 200 bales of Khanewal at Rs 3,000.

Courtesy Business Recorder