Related Keywords: cotton bales, Cotton market, due to panic buying, expectations of better rates in near future, ginners interested in present selling, official spot rate picked up, persistent demand for quality lint, prices gain further, prices touch seasons high rate, short supply
On the back of short supply and persistent demand for quality lint, prices has gain further at the cotton market on Thursday. In the recent session, the prices touched the season's high rate at Rs 5750 due to panic buying, dealers said.
According to market sources, short supply helped the rates to go up further as the ginners were interested in present selling on expectations of better rates in the near future. The interesting thing is that the ginners have not much quality lint but they are to hold back, not making deals in a big ways.
