Pakistan:Cotton gains slightly

Signalling start of trading activity, cotton at Karachi market traded higher by Rs 25 at Rs 2,250 per maund on Tuesday.

About 3,000 bales were originating from Sindh were transacted as quality lint was in spotlight.

Mills however, purchased inferior quality of cotton as against spinners going for quality lint, in order to consolidate their future gains.

Quality lint was bought by mills at Rs 2,300, while new lint form spinners was offered Sindh lint at Rs 2,285 per maund.

Ginners offered all grade Sindh cotton in the range Rs 2,255 to Rs 2,285 per maund. Cotton on physical market fluctuated between Rs 2,275 and Rs 2,300 per maund, informed trader sources.

Punjab crop may get affected due to an imminent pest attack, in major parts of Punjab.

September deliveries, meanwhile were settled at between Rs 2,270 to Rs 2,285 per maund.

KCA informed that Tando Adam witnessed 200 bales traded at Rs 2,275, Mirpurkhas - 400 bales at Rs 2,265, Sanghar saw 1,000 bales at Rs 2,275, 500 bales of Odero Lal at Rs 2,275, 200 bales of Sultanabad at Rs 2,265 per maund, 400 bales of Sadiqabad at Rs 2,275 per maund and Rs 2,275 per maund for 200 bales of place unreported as yet.