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Cotton buying spree continues on better exports prospects.
Byline: RECORDER REPORT
Prospects for better exports in the coming days, propelled the mills and exporters to make new deals, dealers said on the cotton market on Tuesday. The official spot rate was unchanged at Rs 3500. Approximately, 38,000 bales changed hands between Rs 3525-3600, they said. Phutti prices in Sindh were same at Rs 1700-1725 and in Punjab at Rs 1725-1775, they said.
According to market sources, mills and exporters were engaged in panic buying of cotton despite the news of steady phutti arrivals from Sindh. They said that supply in the Punjab a little bit disturbed but the prices were higher due to quality factor. It is expected that easy supply of …
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