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The cotton market on Monday began monotonous as buyers and sellers stayed away. Due to slackness in cotton demand, phutti (seed cotton) prices also remained under pressure and were quoted between Rs2,800-3,000 per 40kg for Sindh quality and Rs2,800-3,050 per 40kg for Punjab variety.
Ginner were holding onto stocks from earlier on since cotton picking activity came to a complete halt over the weekend to mark Ashura. According to a leading cotton broker, it will be a couple of days before trading normalises.
