Price of lint in cotton market in Karachi is still under pressure

June 18, 2019

On Monday, traders of the Karachi Cotton Association (KCA) said that spot cotton prices are still under pressure, lint has a large liquidity, a range-bound pattern, and spot prices are firm.

The floor broker said that Karachi's spot trading price did not change and remained at Rs 5,500 per Month.

The floor broker said that Punjab and Sindh trading stations bought cotton of a selected grade at a competitive price, and sellers holding the goods slightly reduced their offers.

They said that Punjab traders bought secondary cotton at about Rs.4,300/Mengde during trading hours.

They said that buyers and sellers at the trading stations in Sindh and Punjab reached a one-month forward delivery transaction, and private commercial exporters signed all levels of contracts.

The broker said that the price of raw material lint was down because the trading prices in the Punjab and Sindh stations were around Rs 3,800/Mend.

About 85% of the total volume of 18,000 bags changed hands at Punjab.

The broker said that according to the US Department of Agriculture report, world lint demand fell by approximately 13.5%, while international cotton production increased by 6.6%.

He said that Pakistan’s output increased by about 12%, and by the end of April 2012, total production is expected to reach 15.2 million bales.

He said that high-quality lint is still concentrated in the Punjab station and is priced at about Rs. 6,000/Mongd. Sindh Station still lacks a good grade of cotton, and the seller’s best cotton offer is higher than Rs 5,850/Mend.

The price of cottonseed in Sindh is maintained at Rs. 1600 to Rs. 2100/Monday, while in Punjab the price is Rs. 2400 to Rs 2800/Monde, depending on the cotton grade.

The New York futures cotton market remained stable. In March 2012, the cotton futures stood at 95 cents/lb, and the May cotton future was 96 cents/lb. The Cotlook A Index stands at 100 cents/lb.

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