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BULLISH TREND CONTINUES ON PAKISTAN'S COTTON MARKET.
KARACHI, Jan 2 Asia Pulse - The cotton market has maintained a bullish outlook as ginners held on to their stocks apparently in a bid to raise prices further higher.
Ready offtake, therefore, fell to a modest proportions as spinners were also reluctant to bid at the higher rates owing to their export parity levels for yarn and cloth.
"Both the ginners and spinners seem to have taken positions to outwit each other on the price front", brokers say "but it appears to be a no-win situation as the role of the both is complimentary to each other".
But market sources attributed the current slowdown in ready business to year-end considerations as most of the leading spinners were not inclined to inflate their inventories for year just ended.
Spinners are expected to open the new year account with higher ...
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