First deal of new crop (next season) from Burewala finalised on the cotton market on Monday in the process of listless trade, dealers said. The official spot rate was unchanged at Rs 5450, dealers said. In the ready session, only one deal of 200 bales of cotton from Burewala sold at Rs 5600, they said. Seed cotton prices in Sindh were same at Rs 2600-2700 and in Punjab rates were at Rs 2800 and Rs 2900, they said.
Cotton analyst, Naseem Usman said that a few buyers were in the market to know the latest development. It is highly speculated that main buyers may prefer to make in new crop. Some of them were trying to lay h