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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: Bangladesh, chinese mill, cotton bales, cotton yarn, Cotton year, decline in cotton prices, finer quality cotton, Indian cotton exporters, Indian cotton industry, international prices, long-staple, Vietnam

This cotton year, India has exported 11.5 million bales, compared with 11.4 million bales in the previous cotton year. It is estimated at the beginning of the next season, export will fall 35-40 per cent.

Currently, cotton exports from India have come to a standstill, as the global prices are on a downward trend, while Indian prices are higher than them.