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Hectic trading activity was witnessed at the cotton market with prices in ready business and official spot rate touching season's high on Monday, dealers said. In ready business, more or less 10,000 bales of cotton changed hands between Rs 6500 and Rs 7000.
The official spot rate picked up further by Rs 150 to Rs 6400. While in Sindh seed cotton prices posted fresh gain of Rs 100-Rs150 to Rs 3400 and Rs 3500 per 40 kg, respectively, In Punjab, rates of phutti also went up at Rs 3400 and Rs 3600, dealers said.
