Related Keywords: ahead of Eid-ul-Azha holidays, declining demand for cotton yarn, did not take interest in fresh buying, due to improved supply position, easy supply of Phutti, exerted pressure on cotton prices, official spot rate continued to fall, rising arrivals of seed-cotton, some leading mills, Trading activity at cotton market remains down
Trading activity at cotton market remains down on Thursday due to easy supply of Phutti ahead of Eid-ul-Azha holidays, dealers said. According to the market sources, some leading mills did not take interest in fresh buying due to improved supply position and declining demand for cotton yarn.
Dealers said that the official spot rate continued to fall, losing Rs 100 to Rs 5,850. In Sindh, seed cotton prices were at Rs 2800-3050 and in Punjab rates of Phutti were at Rs 2500-2900, as per 40 kg while in ready business, around 14,000 bales of cotton changed hands between Rs 5900 and Rs 6100
