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| AW Pakistan: Cotton Prices Remained Firm | |
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In Pakistan, panic buying was witnessed on cotton market on Wednesday as mills and exporters did not wait for decline in the rates in anticipation of shortage of stock in the coming days and some jitters over the outcome of the meeting of textile stakeholders with the textile minister.
The Karachi Cotton Association (KCA) official spot rate was inert at Rs 3725/maund, according to the sources.
In the ready business, prices were firm as nearly 50,000 bales of cotton changed hands between Rs 3700-3800. Phutti prices were also steady in Sindh and the Punjab at Rs 1800-1900, they added. |