Pakistan Local Cotton Prices and Market Commentary 10th October 2017

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Prices moved higher on the cotton market on Monday despite strong pace of seed cotton arrivals, dealers said. The official spot rate gained Rs 50 to Rs 6050, they said. In the ready session, around 14,000 bales of cotton changed hands between Rs 6150-6250, they said. In Sindh seed cotton prices gained modestly at Rs 2800-3050, in the Punjab rates were up by 100 at Rs 2900-3200, as per 40 kg, they said.Commenting on surging trend, cotton analyst,in fact prices went up as the ginners raised asking rates. During the last sessions, the mills and ginners lay hands over the fine quality to replenish their stock

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