Cotton flat

Karachi

Cotton prices at the Karachi Cotton Exchange closed flat on Thursday, as there was sufficient supply to meet the demand.

The spot rates at the exchange closed flat at Rs6,000/maund, while the turnover remained high, as 38,800 bales were traded in Sindh and Punjab regions.

Dealers said the demand was higher from the millers and exporters, as there would be increased demand of made-ups world over.

The demand is increasing by the spinners to meet the orders from other textile and garment manufacturers.

However, sufficient supply kept the prices in check. Pakistan’s cotton crop target has repeatedly been condensed due to abnormal weather conditions, low yield, low demand and pest attacks, which discourage farmers to cultivate cotton and substitute to cash crop such as rice, wheat and sugarcane.