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At cotton market on Thursday buyers seen chasing quality cotton in order to build up their inventories. This renewed buying interest pushed the cotton prices up to the seasonal peak level of Rs.7,000 per maund. Due to intense demand, prices on ready counter touched Rs7,000 per maund while official spot rates were increased by Rs100 to Rs6,600 per maund.
Short supply and fears of crop failure kept buyers panicky. There was strong demand but most deals could not be finalised owing to quality constraints.
