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Trading activity at cotton market on Wednesday witnessed further improvement with spinners doing some urgent buying of quality lint to meet requirements, dealers said. Besides, rise in oil prices resulted in higher polyester yarn prices by Rs 2 per kg, this is a positive factor which is causing rise in buying of cotton.
The official spot rate unchanged at Rs 5,200 while the Punjab prices were at Rs 2400 and Rs 3000. In the ready business, over 6,000 bales of cotton changed hands between Rs 5000 and Rs 5550, dealers said.
