It’s the four consecutive day with no trading happening in Pakistani cotton markets. This is for the first time that traders have recorded no trading deals and are become idle ahead of the arrival of the new crop.
It has made a history with no trading deals taking place in four consecutive days at the cotton markets in Pakistan, a broker at the Karachi Cotton Exchange stated, adding that trader deals remained nil since Friday.
There were multiple reasons for no trade deals happening these days, including acute slowdown in the sales of cotton yarn which in turn created shortage of funds with the yarn manufacturers. The shortage of funds is not allowing the manufacturers to buy cotton.
Secondly, this particular period is an off-season of cotton production in Pakistan with majority of the traders waiting for the arrival of the new crop has put on hold their purchases.
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