Supplies from the new cotton crop have improved as sizeable quantities have started arriving in the market, majorly from the coastal cities of Sindh. The Karachi Cotton Association kept its spot rate unchanged.
Cotton broker Syed Mudabir Shah said picking somehow gets momentum in cities in Sindh including Badin, Degree, Gularhci, Mirpur Khas and Umerkot.
He said the price of phutti (seed cotton) rose by Rs50 to Rs3,500 to Rs3,625. However, the price of cotton seeds reduced from R
With slow demand from spinners on Thursday cotton prices eased further. The Karachi Cotton Association also reduced its spot rate by Rs50 on a maund (around 37 kilograms).
According to yarn broker, as many as 80 spinning mills have been shifted to polyester and cotton blend fabrics from pure cotton fabrics which resulted into less consumption of cotton yarn.
Imports of Indian yarn have increased as the production cost of cotton yarn in Pakistan was 16.5 percent higher as compared to India.
