Karachi, March 14, 2013 (PPI-OT): Steady conditions have persisted in the local raw cotton market. Since the supply from the tail end of the domestic crop’s fast diminishing, and prices of imparted cotton remain high, the local market is expected to rise further over the remainder of the season.
Although business volumes have remained low today, ginners have generally been unwilling to discount their asking prices. Most spinners are well covered, but in view of the delayed start to sowing of early new crop, some are seeking to add to inventories. Export demand for cotton yarn is reported to have improved in recent days, including that from China, but sales to the local downstream industry apparently offer better returns.
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