Pakistan: domestic prices lower

Lacklustre conditions have prevailed in the local cotton market. Old crop remnants are now very limited, with business activity subdued and most mills remaining on the sidelines.  Ginners are eager to dispose of stocks as new crop arrivals start to trickle in.

Asking rates for better grade lots have been quoted at between Rs. 6,400 and Rs. 6,800 per maund ( roughly 79.20/84.15  US cents per lb), ex-gin. Average quality cotton has attracted around Rs. 5,500 to Rs. 6,300 per maund.

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