Related Keywords: causing decline in rates, cotton bales changed hands, Cotton market, cotton prices modestly down, ginners reluctant in new purchasing, official spot rate down, quality was not matching, ready session, Trading activity slowed down
Trading activity slowed down as ginners were reluctant in new purchasing because quality was not matching with their psychological levels causing decline in rates on the cotton market on Tuesday, dealers said.
The official spot rate after maintaining a stable trend for a long time came down modestly, shedding Rs 50 to Rs 6200. In Sindh, seed cotton prices were at Rs 2600-3250 while that in Punjab, phutti rates were at Rs 2800 and Rs 3500, as per 40 kg.
