Pakistan: prices decrease slightly

Dull conditions have prevailed in the local cotton market. Market activity has remained subdued as mills have mostly bought against nearby requirements. There is an anticipation of an improvement in local trading as new crop supplies become more abundant, and a clearer price tone is set. Old crop remnants have  continued to be liquidated gradually, and ginners have been hopeful of disposing of these stocks at the earliest opportunity.

Asking prices for premium quality old crop lots have been quoted today between Rs. 6,400 and Rs. 6,700 per maund (about 79.00/82.65 US cents per lb), ex-gin. Prices for average quality cotton have attracted around Rs. 5,400 to Rs. 6,200 per maund.

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