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Cotton trade drops amid higher price demand by ginners

Cotton trade drops amid higher price demand by ginners Business April 18, 2021 KARACHI: As expected, ginners are demanding higher prices from buyers due to shortage cotton bales in the market with their stocks down to 70,000 bales, traders said on Saturday. With cotton production having declined around 40 percent, ginners are demanding higher prices, as very little stock of around 70,000 bales is left with them, traders said. Spinners were less interested in the purchase of lint from the local market during the outgoing week. They are not ready to purchase lint at higher rates, although prices remained stable in the local market amid low volumes.

Cotton prices fall Rs400 per maund to Rs10,800 per maund

Cotton prices fall Rs400 per maund to Rs10,800 per maund Business April 11, 2021 KARACHI: Cotton prices fell Rs400 to Rs10,800 per maund as spinners showed reluctance to make purchases, traders said on Saturday. They said interest of spinners further declined in purchase of cotton that resulted in a drop of the official spot rate fixed by the Karachi Cotton Association. Chairman Karachi Cotton Brokers Association, Naseem Usman, told The News that international markets witnessed fluctuation during the outgoing week. In the New York Cotton Market, rates had gone down to 77 cents per pound, which again increased to 82 cents per pound. Cotton rates in the international market fluctuated during this period while local stocks are left below than 85,000 bales only.

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