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Related Keywords: cotton bales, Cotton market, global cotton market, KCA, kept to the sidelines, Leading spinners, major factor for poor performance, slow off take of cotton yarn, Slow trading witnessed, spot rate

Slow trading witnessed at the cotton market on Wednesday as leading spinners kept to the sidelines. Overall, the undertone was weak and outlook uncertain. However, some market reports suggest that slow off-take of cotton yarn was a major factor for poor performance of the cotton market.

Trading resumed on overnight dull tone, impacted by the issuance of an statutory release order (SRO) waiving duty and taxes on import of cotton.

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 dwindling cotton stocks, competitive prices, cotton market on Monday. Ginners holding not more than five lakh bales, cotton yarn, higher prices, KCA, next cotton season is more than four months away, quality cotton, Slow trading witnessed, small and medium units, spinner accumulated seasonal cotton needs, spot rate remain unchanged

Slow trading witnessed amid dwindling cotton stocks and higher prices at the cotton market on Monday. Currently, Ginners are holding not more than 500,000 bales. Moreover, the next cotton season is more than four months away.

Many leading spinners have already accumulated their seasonal need of cotton while small and medium sized units are looking for quality cotton at competitive prices.

At the Karachi Cotton Association, its spot rates remained unchanged.