The price of cotton has been under pressure with slower demand by textile spinners because of the lack of quality lint available and shortage of liquidity even after the prices of cotton had been falling.
The cotton prices in the Pakistani market was lowered by Rs100 to Rs8,900 from the last week’s Rs9,000 per maund because of the falling prices of cotton in the international market.
However, the demand for quality lint is still high but the short-supply has impacted the market. The market saw some activity as textile spinners had to book low-grade cotton. The world markets also reported under pressure cotton prices.
The following deals were reported to have changed hands on ready counter: 400 bales, station Mirpur Mathelo, at Rs9,100; 400 bales, Ghotki, at Rs9,300; 1,000 bales, Rohri, at Rs8,350; 1,200 bales, Khairpur, at Rs8,150-8,300; 1,000 bales, Rahim Yar Khan, at Rs9,000; 1,400 bales, Yazman Mandi, at Rs8,350; 2,000 bales, Chichawatni, at Rs7,750-8,350; 1,000 bales, Faqirwali, at Rs8,300; and 600 bales, Haroonabad, at Rs8,300.