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PRICES FALL ON PAKISTAN'S COTTON MARKET.
KARACHI, Nov 1 Asia Pulse - Cotton prices on Wednesday eased modestly from the recent higher levels as arrivals of phutti into the ginneries gathered fresh momentum.
Reports that growers are not inclined to hold long positions or send phutti on unfix basis seem to have unsettled the current price outlook, dealers said.
They said the fall of phutti prices before the last week's higher level of Rs1,000 (US$17.10) per maund has a sympathetic negative impact on the lint rates in the ready section.
But leading cotton analysts are not inclined to entertain the idea of any sharp fall in prices of both phutti and lint at least for the near-term until the size of the crop is fully ascertained.
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Source: HighBeam Research, PRICES FALL ON PAKISTAN'S COTTON MARKET.