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Related Keywords: adjusted downward, adversely affected by slow arrivals, closed easy in line with global trend, cotton bales, Cotton market, cotton trading, crisis-ridden textile industry, Karachi Cotton Association, lacked buying interest, new cotton crop, no hurry to build up stock, phutti, seed cotton, spot rate

Cotton trading on Monday lacked buying interest and closed easy in line with the global trend. Cotton market was adversely affected by slow arrivals of phutti (seed cotton).

Moreover, a crisis-ridden textile industry is cautious and seems to be in no hurry to build up stock from the new cotton crop, they maintained.

Recent rains across the country also hampered cotton picking both in Sindh and Punjab which restricted the availability of cotton.

Related Keywords: constant demand by mills and spinners, cotton bales, Cotton prices rise, heavy rains, new cotton crop, official spot rate higher, Pakistan cotton market, prices could go up further after Eid-ul-Fitr, Punjab phutti prices, Sindh seed cotton prices

Cotton prices rise further due to heavy rains and persistent demand by mills and spinners, at cotton market on Wednesday, dealers said. The official spot rate was higher by Rs 50 to Rs 5,750. In Sindh seed cotton prices were at Rs 3100-3300 while in Punjab phutti prices were at Rs 3100 and Rs 3350, per 40 kg, respectively.

According to the market sources, cotton prices moving up with the passage of time the world over owing to shortage problem.

Related Keywords: cotton, Cotton futures, Cotton market, cotton prices, new cotton crop, Textile

Pakistan cotton market witnessed improved buying interest in new crop on Tuesday. Mills and spinners showed interest in purchasing new crop due to quality factor which helped to improve the volume of business.

According to analyst, Naseem Usman, some of mills were on the sidelines due to rising problems related to textile business such as load shedding. Other dealers said that cotton market saw thin business because of bank holiday.