Business

Traders buy 6,200 bales

KarachiTrade turnover of cotton remained low at 6,200 bales (155 kilograms each) at the local markets, as majority of the textile mill-owners remained on the sidelines ahead of the start of off-season (March-June) in Pakistan, a dealer said on Thursday.“Every year during this period trade activities were recorded low,” a

By our correspondents

January 23, 2015

Karachi
Trade turnover of cotton remained low at 6,200 bales (155 kilograms each) at the local markets, as majority of the textile mill-owners remained on the sidelines ahead of the start of off-season (March-June) in Pakistan, a dealer said on Thursday.
“Every year during this period trade activities were recorded low,” a broker at the Karachi Cotton Exchange said.
Majority of the big textile mills built cotton reserves in peak production season (September-November).
The current little buying is being made by those mill-owners who are “hand to mouth” and run their operations on a day-to-day basis.
Traders bought a total of 6,200 bales at Rs4,700 to Rs5,125/maund as compared to 7,200 bales bought at Rs4,750 to Rs5,075/maund a day ago, the Karachi Cotton Association (KCA) reported.
Meanwhile, the KCA kept its official rate for cotton unchanged for the fourth working day at Rs4,850/maund.