Related Keywords: absence of buying interest, came under pressure and moved lowered, decline in cotton prices, falling cotton prices, Ginners, KCA, local spinners, phutti (seed cotton), spot rate
The absence of buying interest from local spinners witnessed further decline in cotton prices on Thursday. Due to falling cotton prices, phutti (seed cotton) also came under pressure and moved lowered.
Ginners are perturbed by the situation as they are still holding substantial quantity of unsold cotton. Barring a few needy spinners who replenished their stocks, the market otherwise remained devoid of activity.
A large number of looms are reported to have shutdown in Faisalabad owing to the flooding of grey cloth coming from India and China via Dubai.
