KARACHI: The cotton market on Thursday remained steady on slow buying owing to depressed demand for cotton yarn and fabric.

Floor brokers said that cotton prices the world over have reached saturation point which is worrying the textile industry. Consequently, the buyers are reluctant to enter into big deals, they added.

Moreover, the current cotton se­­a­son is expected to end mu­ch earlier than normal due to short crop, which was another reason for sla­ck cotton trade, brokers said.

The New York cotton market once again came under profit-selling and closed easy for all the future contracts, except maturing March 2017 contract which edged up slightly.

The Karachi Cotton Association left its spot rates unchanged. The following deals were repor­ted on the ready counter were: 1,600 bales from Sadiqabad at Rs7,000, 200 bales from Khanewal at Rs6,800 and 400 bales from Fort Abbas at Rs6,800.

Published in Dawn, February 24th, 2017

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.