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Spot rate, prices in ready turn softer in nominal activity on cotton market.
Byline: RECORDER REPORT
Spot rate and prices in ready dealings fell on the cotton market on Monday in process of slow trading, dealers said. The official spot rate was curtailed by Rs 100 to Rs 5,400, they said. Seedcotton prices in Sindh were at Rs 1800-2300 and in the Punjab at Rs 2200-2650, they said.
In ready dealings approximately 2000 bales of cotton changed hands at Rs 3800-5675, they added. Business activity was down as mills and spinners remained on the sidelines due to sluggish demand by foreign and local buyers, Naseem Usman said. He also said traders of cotton and readymade garments were also worried about the fall in daily intake, as a result of decline, …
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