Advance deals for the new crop of cotton are also likely to be up to Rs 23,000 per maund Photo: File
Karachi: Despite unexpected delays in cotton sowing in most cotton zones due to unfavorable weather conditions, advance deals for the new crop of cotton in Pakistan have started at a brisk pace.
Traders of Mirpurkhas, Hyderabad and Tando Bagu regions of Sindh sold 10 wagons of new cotton crop at Rs.10,000 to Rs.11,000 per 40 kg on the basis of delivery from 05 to 30 May and there are reports in the market that the next few During the day, advance deals are being made for the new crop of cotton along with cotton.
Chairman Cotton Gener’s Forum Ehsanul Haq said that there was some delay in the arrival of the new cotton crop this year, but a trader in Sindh’s Tando Bagu made an advance deal for two cars of cotton based on the delivery of May 5 to 10. A ginning factory in Chichawatani area of Punjab was sold for 11,000 rupees per maund, while the advance deal of four cars of cotton from Hyderabad on the basis of delivery from May 20 to 30 was 10,000 rupees per 40 kg, while that of Mirpur Khas. A trader sold advance deals of four cars of cotton based on May 20th to 30th delivery at Rs.10,500 per 40 kg. Advance deals are also being shown to be up to 23 thousand rupees per month.
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