Related Keywords: China to reduce cotton cultivation, cotton market turned easy, cut in spot rates, depressing cotton trade, effect entire textile chain, fabric markets, Fall in cotton yarn, floor broker, go idle in coming days, imported substantial quanity of cotton, KCA, leading spiiners, million of spindles, seed cotton, stayed away from proceedings
Fall in cotton yarn and fabric markets is depressing cotton trade, as leading spinners stayed away from the proceedings having already imported a substantial quantity of cotton due to which the cotton market turned easy on Friday, said floor brokers.
Despite the fact that stocks are low and there is little hope of any substantial arrival of phutti (seed cotton) during the current season, there are hardly any signs of panic buying.
Brokers said that millions of spindles would go idle in the coming days which would have a snowball effect on the entire textile chain.
