KARACHI, Nov 1: Cotton prices rose on Thursday as growers curtailed their supply in order to higher prices but brokers expect to remain stable in the coming days due to higher arrival of phutti.

The Karachi Cotton Association revised up its official spot rate by Rs50 to Rs5,700.

Rates of seed cotton picked up by Rs100 in both Punjab and Sindh for low quality for high quality was unchanged at Rs2,700.

Some brokers said that the new cotton production may fall in India and likely to bring stability in the market.

US cotton futures trading on ICE Futures extended the previous session’s losses and closed lower, as rising certified stocks provided pressure.

The following notable transactions were reported on the ready counter on Thursday:

SINDH VAREITY: 600 bales Mirpurkhas at Rs5,500 to Rs5,550, 800 bales, Shahdadpur at Rs5,500 to Rs5,600, 600 bales, Tandoadam at Rs5,550 to Rs5,600 and 2,000 bales, Khairpur at Rs5,800.

PUNJAB TYPE: 2,400 bales, Fort Abbas at Rs5700 to Rs5,775, 1,800 bales Rahim Yar Kahn, at Rs5,800, 1,000 bales Bahawalpur at Rs5,650 to Rs5,700, 1,000 bales, Hasilpur at Rs5,600 to Rs5,700, 400 bales, Haroonabad at Rs5,750, 800 bales, 400 bales, Gaggomandi at Rs5,675, 1,000 bales Burewala at Rs5,700, 200 bales, Khanewal at Rs5,650, 600 bales, Faqirwali at Rs5,750, 800 bales, Mianwali at Rs5,800 and 400 bales, Rajanpur at Rs5,800.