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Related Keywords: China cotton reserve auctions, cotton cultivation, Cotton market, Cotton prices recover, government announce a comprehensive cotton policy, official spot rate recovered majorly, PCGA, ready business, save textile industry, short supply position, spinner indulged in forward buying

With spinners getting indulged in forward buying amid short supply position, prices recovered on the cotton market on Friday, dealers said. In the ready business, around 5000 bales of cotton changed hands between Rs 4500-6000 while in the Punjab, prices showed no change at Rs 3100 and Rs 3400. The official spot rate recovered majorly from Rs 100 to Rs 5,650.

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.