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Despite rising cotton prices on Tuesday, spinners continued to build up their stocks fearing delay in arrival of next crop. The next cotton crop is likely to be late by three to four days, as a result of the ongoing spell of rain in Punjab and cold weather in Sindh.
The higher consumption of cotton by the textile industry is also putting pressure on lint prices which have moved to a seasonal high of Rs5,250 per maund. However, shortage of quality lint is another major factor which has pushed prices up.
The Karachi Cotton Association (KCA) left its spot rates unchanged.
