Pakistan cotton prices remain unchanged

Pakistan cotton prices remain unchanged

KARACHI: The cotton prices at Karachi Cotton Association (KCA) remained intact at Rs 6,400 on Thursday.

Though overall demand decreased for cotton but mills were active in trading as they were getting better quality of cotton at current prices.

The rates of seed cotton in Sindh stayed constant for consecutive third day of the week at Rs 2,300 and Rs 2,800, while in Punjab cotton rates were Rs 2,000 and Rs 3,000, dealers said.

In ready business, around 13,000 bales of raw cotton were traded between Rs 5,500 and Rs 6,800 per maund during the session.

Higher Phutti arrivals did not allow ginners to hoard the stock for longer time period; therefore they have to trade at current price levels which could push prices further down.