Related Keywords: caused price flare up, cotton bales, Cotton market, improved buying by mills and spinners, increase in booking orders by the foreign countries, Indian cotton export, official spot rate picked up, rates may go up in coming days, short supply, strong demand, witnessed rise in cotton prices sharply
The cotton market on Wednesday in the process of improved buying by mills and spinners, witnessed rise in cotton prices sharply, dealer said. According to market sources, short supply and strong demand by mills and spinners caused price flare-up. It is expected that the rates may go up in the coming days.
The official spot rate also picked up Rs 50 to Rs 5400 while in Punjab, rates of phutti were at Rs 2800-3150. In ready business 8000 deals of cotton bales finalized at Rs 5300-5750, dealers said.
