Pakistan textile mill-owners to maintain their inventories on the higher side resumed purchasing, which helped boost activity at the cotton market with trade turnover of cotton improving by 16 percent to 19,200 bales (155 kilograms).
However, the trade activity was comparatively low due to slowdown in the sales of cotton yarn , a dealer said on Monday.
According to a broker at the Karachi Cotton Exchange, big textile mills maintain, at least, three-month stock of cotton in hands.
If the mill-owners would have not been facing problem of capital shortage then they would have bought higher number of bales. The prevailing prices are suitable and may not fall further in the days to come. Experts and analysts expect the market to remain steady
It is to be noted that the slowdown in cotton trade is not limited to local markets. World cotton markets , including the United States, China and India are also facing similar situations.
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