Karachi cotton market failed to witness any improvement in trading activities due to which the Karachi Cotton Association (KCA) went down to revise its cotton spot rate by Rs50 per maund to Rs6,900 per maund on Monday.
Traders exchanged a total of 5,000 bales (155 kilograms each) at Rs6,675 to Rs7,100 per maund (37.324 kilograms), the KCA reported.
The decline in the number of orders for purchase of cotton yarn from abroad forced local manufacturers of cotton yarn to stay on the sidelines of the market.
The prevailing higher price of high quality cotton has forced the exporters to sit out of the markets, making exports of the commodity difficult from Pakistan. This is one of the reason also contributed to low trade turnover these days
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