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Fog in Punjab affecting quality of lint

RECORDER REPORT

KARACHI: Spinning mills are seeking quality lint only usual market sources said on Saturday.

The fog persisting in Punjab (and India) appears to be adversely affecting the quality of the lint, they said.

However, demand for Pak cotton is high following reports of short crop in China, India, Brazil, Israel, Mexico and Australia.

Exporters have been doing good job, who so far have registered nearly 400,000 bales of cotton for export, sources close to exporters said. They have sold cotton at 28, 30, and 34 cents per pound which they thought was good enough.

Exporters were particularly appreciative of the TCP role whose induction brought stability in prices. The TCP has tendered for the sale of Afzal and 1414 type cotton. So far, it is not known whether it has received any response. It is hoped that TCP would be able to ship cotton soon.

India is an aggressive buyer, but some reservations remain, like delay LCs from some parties and permission to open Wagah route. Sources expressed hope that the government would permit the exports and Wagah route would be also be opened soon.