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.
