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Related Keywords: cotton bales, cotton market witnessed, discouraging buying at large scale, paying premium price for good lint, prices remained on higher side, Renewed buying interest, Shortage of quality cotton, spinners sought to replenish stocks, trading could not expand

The cotton market on Tuesday witnessed renewed buying interest as spinners sought to replenish their stocks, paying premium price for good lint. Consequently, prices remained on the higher side discouraging buying at large scale.

Due to high cotton prices, phutti (seed cotton) prices moved higher and were being quoted in the range of Rs2,900-3,300 for Sindh quality and Rs3,000-3,400 for Punjab variety.

Higher cotton yarn prices were also adversely impacting yarn market as they threaten value-added textile industry’s viability.

Related Keywords: cotton, cotton trade would remain slow, influenced some needy spinners, Karachi Cotton Association, pushes cotton prices higher, raised its spot rates by Rs fifty per maund, rising demand, rushed to replenish their stocks, short supply, Shortage of quality cotton, till arrival of next crop

Rising demand and short supply pushes cotton prices higher on Thursday. However, there is a shortage of quality cotton which influenced some needy spinners who rushed to replenish their stocks, brokers said. The Karachi Cotton Association also raised its spot rates by Rs50 per maund.

Related Keywords: cotton market on Thursday, cotton policy, Karachi Cotton Association, limited stocks with ginners, Only small lot deals changed hands, owing to dwindling stocks, protected cotton growing areas, Shortage of quality cotton, Slow trading witnessed, spot rates were reduced by rupees fifty

Slow trading witnessed at cotton market on Thursday owing to dwindling stocks in the country and shortage of quality cotton. The Karachi Cotton Association’s spot rates were reduced by Rs50 to Rs6,750 per maund (around 37 kilograms).

Only small-lot deals were reported to have changed hands as spinners kept looking for quality cotton but mostly failed due to limited stocks with ginners.

Meanwhile, ginners fear that the next crop could also be short if the government did not come up with a cotton policy and protected cotton-growing areas which are shifting to sugar cane.

Related Keywords: amid rising prices, barring a couple of deals, Big spinners slowed down imports, both buyers and sellers, Cotton market, depleting cotton stocks, KCA, keeping trading activity dawdling, market conditions remained dull, Shortage of quality cotton, spot rate remain unchanged, started to affect on trade volume, took to the sidelines

Shortage of quality cotton coupled with depleting cotton stocks have started to affect on trade volume, keeping trading activity dawdling at cotton market on Thursday. Both buyers and sellers took to the sidelines amid rising prices. Barring a couple of deals, the market conditions remained dull.

Big spinners have also reportedly slowed down their imports. On the domestic front, the trading ring gave a deserted look.