Dull trade on cotton market | Business Recorder
Despite the fact that we have reached the tail-end of our current season (August 2016/July 2017) with only about 250,000 bales (155 Kgs) lying unsold in the open market, cotton rates remain mostly unchanged over the week. As the domestic textile industry continues to remain mostly in losses, lint prices remained mostly unchanged since the beginning of this month. Even while global cotton prices are reported to be mostly tight as in America and India, they are also said to be quite steady in China. Local lint prices continue to range from Rs 6500 to Rs 7000 per maund (37.32 Kgs), according to the quality. Traders said on Thursday that cotton prices are presently cheaper in Pakistan compared to the global prices. According to the final seed cotton (Kapas/Phutti) arrivals for the current season (2016/2017), the total upto the 15th of April 2017 were 10,727,182 lint equivalent bales from which the domestic mills picked up 10,259,229 bales. The exporters lifted 202,356 bales. Unsold bales