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Related Keywords: absence of buying interest, came under pressure and moved lowered, decline in cotton prices, falling cotton prices, Ginners, KCA, local spinners, phutti (seed cotton), spot rate

The absence of buying interest from local spinners witnessed further decline in cotton prices on Thursday. Due to falling cotton prices, phutti (seed cotton) also came under pressure and moved lowered.

Ginners are perturbed by the situation as they are still holding substantial quantity of unsold cotton. Barring a few needy spinners who replenished their stocks, the market otherwise remained devoid of activity.

A large number of looms are reported to have shutdown in Faisalabad owing to the flooding of grey cloth coming from India and China via Dubai.

Related Keywords: absence of buying interest, attending textile fair in Frankfurt, fine yarn, Leading spinners, Pakistan cotton market, quality cotton, raw cotton, trading activity

Trading activities at the cotton market on Tuesday in the absence of buying interest remain slow. There were only a few small lot deals from some mills as most leading spinners are abroad to attend a textile fair in Frankfurt, Germany.

Many spinners participating in the forthcoming textile fair in Frankfurt, Germany, are expecting to get good business. As a result, much of buying remained around quality cotton required to produce fine yarn and high quality made-ups, brokers said.