The cotton trading in Pakistani markets picked up in mid-December as the news of the US-China trade deal made investors optimistic about a pick-up in trade inline with the global markets, where trading also picked up and an increase in future price of cotton is also expected.
After the successful conclusion of the US-China trade negotiations and news of a cease fire by both sides in the trade war, world markets showed a positive trend and local markets also showed renewed optimism in trade acceleration in the near future. The cotton in Pakistan markets changed hands quickly and it is expected to pick-up further in the near future.
Local buyers were quick to claim stock and dealers expect an increase in sales in the coming days. A price increase of cotton is also expected in the local market as the business picks up pace.
High demand for quality cotton was seen in the market, however, many buyers settled for lower grade cotton to restock at lower prices and to replenish before a price increase.
Prices in New York cotton also increased in the range of US 0.61 to 1.29 cents per lb. However, Indian and Chinese cotton markets were mixed to easy.
International market also showed an up-tick in trade of cotton because of the US-China trade deal.
