Related Keywords: buying cotton, cotton dealers, Karachi cotton exchange, Pakistan cotton market, prime quality cotton, textile mill owners, world benchmark cotton market
As several textile mill owners have resumed buying cotton on conflicting reports that the supply of the commodity remained low during the last two weeks. According to cotton dealers, trade turnover of cotton spiked four-fold to 15,800 bales (of 155 kilogram each).
According to Naseem Usman, a broker at Karachi Cotton Exchange, the next fortnightly production report, which is scheduled to be unveiled tomorrow {Wednesday}, may reveal lower production in the last two weeks.
Also the country may face shortage of prime quality cotton, if not of poor qualities.
