Related Keywords: buyers stayed away, cotton bales, cotton inventories, Cotton market, extremely slow tone, falling cotton prices in the world markets, KCA, no transactions, slow off take of yarn, spot rate firm, Trading activity resumed, week opened, yarn market
Trading activity resumed on an extremely slow tone as the week opened at the cotton market as buyers stayed away due to slow off take of yarn and falling cotton prices in the world markets.
Although the SRO for waiver of duty and taxes on lint imports was issued by the government last week, spinners are now facing a new quandary as cotton yarn prices started to decline due to lack of buying from the value-added textile sector.
According to cotton broker Naseem Usman, the spinners have huge cotton inventories, due to which the yarn market has suddenly become depressed and slow.
