Pakistan Cotton Ginners Association (PCGA) neither started to issue data of cotton arrival in the Market nor changed its schedule of providing information to the growers as well as mill owners keeping in view the climate change.PCGA will issue its first cotton arrival report on September 18 when more than 1000,000 bales would be sold. The cotton market witnessed frantic buying from mills as well as some
exporters on Tuesday after phutti (seed-cotton) arrivals into ginneries
picked up momentum after staying slow owing to suspension of cotton
picking in Sindh due to Hindu festival holidays. At the outset, there
was strong demand for quality cotton as leading spinners moved to the
forefront, followed by some exporters.
Much of the activity was witnessed in Sindh variety because the
quality of lint improving with the progress of the season. Contrary to
this, Punjab where season starts late, the cotton quality was still low,
but would improve in coming days, the brokers said.
Cotton Commissioner Dr Khalid Abdullah has recently stated that the
country could be producing around 14.3 million bales this season.
However, market talks suggested that it was too early to come up with
any final production figures.
The KCA revised spot rates by Rs50 to Rs8,050 per maund.
Trading on the ready counter was brisk and following major deals were
reported to have changed hands: 2,000 bales, Tando Adam, at Rs8,100 to
Rs8,150; 1,600 bales, Sanghar, Rs8,100 to Rs8,150; 2,000 bales,
Shahdadpur, Rs8,100 to Rs8,150; 1,800 bales, Mirpurkhas, Rs8,100 to
Rs8,150; 1,000 bales, Nawabshah, Rs8,150; 600 bales, Khanewal, Rs8,250
to Rs8,300; 800 bales, Bandhi, Rs8,150; 600 bales, Mongi Bangla, Rs8,230
to Rs8,290; 600 bales, Pir Mehal, Rs8,250 to Rs8,300; 600 bales, Mian
Channu, Rs8,250 to Rs8,300 and 400 bales Tiba Sultan, at Rs8,250
