Pakistan: local cotton prices maintained

Stable conditions have prevailed in the local cotton market. The recent slight weakness in ICE cotton futures has failed to have a negative effect as local supply and demand considerations – namely, the low stocks in ginners’ hands – have continued to influence local cotton rates. Asking rates for medium and better quality cotton have remained at around Rs. 5,200/5,500 per maund, ex-gin. Mills have resisted paying more and have turned attention to imports, mainly of West African cottons. Thus, the volume of domestic business has been small.

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