Cotton stable

Karachi

Cotton prices on Tuesday closed flat as there was an abandoned supply due to increased arrivals in February.

The spot rates at the Karachi Cotton Exchange closed unchanged at Rs6,785/maund, while the turnover remained on the lower side.

Cotton arrival in local markets witnessed 10.63 percent increase during February as compared to the same month last year. 

By the first week of February, a total of 10.634 million cotton bales arrived in local market as compared to 9.612 million bales arrived a year earlier.

Dealers said local crop’s arrivals surged despite torrential rains and flash floods in some cotton growing areas in the country. Pakistan Cotton Crop Committee, in collaboration with the provincial governments, is striving to improve post- harvest management capacities.