Daily Times

KARACHI: Buying on lint market remained moderate and grade-selective while buyers at major stations in Sindh and Punjab stations remained eager for better grades of lint.

Leading buyers made deals for second grade of lint on premium price besides some deals changed hands in old stocks.

Ginning units in upper Sindh and southern Punjab stations ginned better grades of lint on demand and they also made one month advance deals for better grades on slightly higher price.

Grade issue one of the factors that put buyers to make deals on second grade of lint, traders said. Better grade of lint is depleting fast so buyers also made deals for better grades from old buffer stocks that has been fetching price at around Rs 6,950 per maund to Rs 7,175 per maund.

General prices of all grades remained in comfort zone while sellers withholding raw grades offloaded their stuff on buyers’ asking price at around Rs 5,975 per maund depending on trash level. Dearth of better grades and slow arrival of cottonseed in the ginneries put trading selective.

KCA kept the spot rate at Rs 7,200 per maund in order to provide assistance to weak sellers of raw grade to ward off minimal price level.

During the trading session, buyers in Sindh and Punjab stations purchased better grades of lint on slightly higher price at around Rs 7,300 per maund while ginners withholding better stocks slowed down their deals to get better price in future deals.

Published in Daily Times, February 8^th 2018.