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Byline: RECORDER REPORT
The global macroeconomic uncertainties particularly in eurozone, lower consumer confidence and slowdown in demand in emerging markets have dampened sentiments in global commodities market, analysts said. From beginning of May, the CRB index that constitutes of 19 commodities was down 11 percent while price of WTI crude, Arab light crude and coal prices are down 20 percent, 16 percent and 3 percent, respectively, a research report of Topline Securities said.
Cotton, which was already under-pressure, has declined by 16 percent, it added. Other commodity prices like PTA and Px have also come under pressure, while fertiliser prices have remained …