Related Keywords: buyer and sellers remained confused, Fall in US dollar value against the rupee, falling cotton prices, ginners disposed stocks, import parity of cotton improved, Karachi Cotton Association, mixed price trend, needy spinners seen buying, New York cotton market, rapid change in market behaviour, replenish stock, seed cotton, spot rate
Some needy spinners were seen buying at cotton market due to falling cotton prices on Tuesday to replenish their stocks. Due to short crop, cotton prices should have soared and activity should have been brisk, brokers said. However, the situation continued to be uncertain as buyers and sellers remained confused over the rapid changes in the market behaviour.
Fall in US dollar’s value against the rupee forced many ginners to dispose of their stocks in a hurry because import parity of cotton improved.
