Shortage of cotton pushes up prices

They said buyers and sellers actively participated in trading on cotton market as a number of deals were made for various varieties. They said a total number of 4,620 bales were sold on rates depending on quality. In Rahim Yar Khan 2,000 bales were traded at Rs5,600 per maund; 1,000 bales at Rs5,700 and 400 bales at Rs5,650, in Vehari deals for 820 bales were made at Rs5,650 a maund, and in Haroonabad 400 bales went for Rs5,600 a maund.

The local cotton market stayed brisk as spinners and mills bought thousands of bales on higher rates amid strong demand, while ginners were seen making huge profits, although imports were expected soon in the market, the dealers said.