KARACHI, Jan 3; Cotton market on Thursday showed easy trend as ginners further lowered their asking prices to get out of the large unsold inventories.

But there was no matching buying offers from the spinners apparently on the perception that ginners may be obliged to further cut their prices to bail themselves out of the current impasse of falling mill demand, dealers said.

Some leading spinners group were back in the market and indulged in big-lot business after the southern Punjab ginners known for holding quality lint offered to further cut their selling prices, they added.

Some of the deals were finalized about Rs.100 per maund lower at Rs.1,825 from Rahimyar Khan and Sadiqabad ginneries as compared to Rs.1,950, while lint from D.G. Khan was sold at Rs.1,725.

Floor brokers said spinners may have problems on the export front owing to falling demand from the traditional buyers of local cotton yarn,they still need to go a long way to cover their annual consumption demand of around 10m bales.

According to market sources, spinners are also facing the problem of unsold stocks of cotton yarn as do the ginners, which have strained their buying capacity owing to financial problems.

However, they expect resumption of normal trading activity after the latest phutti arrivals were released by the Pakistan Cotton Ginners Association (PSGA) possibly during the next couple of sessions.

In the backdrop of available stocks, spinners and mills will refix their stock priorities, which in turn could raise prices higher from the current lower levels.

Ready offtake was light as till late in the evening about 6,000 bales changed hands as under: 500 bales, Shahdadpur at Rs.1,650, 1,000 bales, D.G.Khan at 1,700 to 1,725.00,1,000 bales, Sadiqabad at 1,825.00 and 4,000 bales, Rahimyar Khan at 1,825 to 1,850.