Related Keywords: cotton bales, dwindling stock on quality lint, extended overnight gain, gaining momentum, international market, market sources, official spot rate, Pakistan cotton market, prices are drifting lower, process of modest trading, rates in local market, short supply position, slow demand, ushing the prices further upward
The dwindling stock of quality lint is pushing the prices further upward at the cotton market on Friday in the process of modest trading, dealers said. According to market sources, in the international market, prices are drifting lower on slow demand but rates in local market gradually gaining momentum on the short supply position.
The official spot rate extended overnight gains, picking up further Rs 25 to Rs 5,650 dealers said.