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Cotton price remained high due to lower availability

YarnsandFibers News Bureau 2014-01-21 16:40:00 – Karachi

Cotton price remained on the higher side in Pakistan due to lower availability of high quality cotton, while arrival of cotton to the local markets slowed down.

Cotton price increased to Rs7,350 per maund, while trade activities remained slightly down in wait for a likely decline in the commodity prices, a dealer said on Monday.

Traders are expecting higher arrivals of cotton than 12.88 million bales reported in the ongoing fiscal year till January 15. This was; however, 7.15 percent higher than 12.02 million bales arrived in the same period last fiscal year.

At Indian cotton markets, price may go down in line with the declining trend, however, the US markets were closed on account of an official holiday.

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