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Home / Business / 20,000 cotton bales change hand at Rs4,675-5,100; spot rate remains Rs4,800
20,000 cotton bales change hand at Rs4,675-5,100; spot rate remains Rs4,800

20,000 cotton bales change hand at Rs4,675-5,100; spot rate remains Rs4,800

KARACHI: The resumption of buying by textile millers to maintain their stock improved trade turnover of cotton in the market which rose by 16 percent to 19,200 bales (155 kilograms).

According to market data, big textile players resumed buying to beef up their inventories which help boost the activity at the cotton market.

However, the trade activity was comparatively low due to slowdown in the sales of cotton yarn.

Experts and analysts expect the market to remain steady. They are of the view that the prevailing prices are suitable and may not fall further in the days to come.

It is to be noted that the slowdown in cotton trade is not limited to local markets as world cotton markets including the United States, China and India are also facing similar situations.