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.
