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Related Keywords: activity remained dull, cotton consumption, Cotton prices remained steady, ginning units, Interna¬tional Cotton Advisory Committee, KCA spot rates remained firm, resumed on Tuesday after Eidul Azha holidays, seed cotton arrival, thin attendance of traders, Trading on the cotton market

Trading on the cotton market resumed on Tuesday after Eidul Azha holidays, however activity remained dull due to thin attendance of traders. The KCA spot rates remained firm at pre-Eidul Azha level.

However, cotton prices remained steady as there was demand and according to brokers around 4,000 to 5,000 bales were finalised at the rate ranging from Rs6,000 to Rs6,075 per maund.

Related Keywords: cotton arrivals, cotton crop, cotton ginneries across Pakistan, cotton growers in Pakistan, cotton output, cotton production of Pakistan, crude oil prices, Pakistan Cotton Ginners Association, Pakistan’s textile exports, Punjab ginneries, seed cotton arrival, Textile Industry

According to the report issued by the Pakistan Cotton Ginners Association on Monday, Seed cotton (Phutti) equivalent to 9.475 million tonnes or 9,475,729 bales have reached ginneries across Pakistan as of January 15, 2016 registering a shortfall of 33.5 per cent compared to 14.251m bales a year earlier.

This shortfall would inflict a loss of around $6 billion on GDP — of which $1.5bn would be suffered by cotton growers and $4.5bn by the industry and exporters, experts say.

Related Keywords: cotton industry, cotton trading, Pakistan cotton market, seed cotton arrival, spot rate

Some trading activity was seen on the cotton market with price dropping unassumingly on Monday in the process of improved activity; Mills showed some interest in new purchasing with supply position eased.
 
Most of the buyers were not in a hurry to make fresh deal in anticipation of fall in prices.