KARACHI, May 25: The cotton market witnessed easier conditions for the second consecutive session on Friday as slack demand dragged prices further down.

Brokers attributed the falling trend on local market to the higher world cotton stocks and shrinking demand by eurozone and US buyers.

Though there was some revival of buying interest on the New York Cotton Exchange where almost all future contracts made modest recovery, but the domestic prices remained depressed.

In the absence of buying interest from spinning mills the market remained listless.

Many exporters were also trying to dispose of their stocks in the local market, brokers said.

The Karachi Cotton Association again lowered the spot rates by Rs100 per maund on Friday.

Trading on ready counter remained modest. The following were the notable deals finalised on Friday evening: 247 bales, Chichawatni (low quality) at Rs4,900, 413 bales, Alipur at Rs5,500, 400 bales, Sadiqabad at Rs5,500, 200 bales, Duniapur at Rs5,550, 100 bales, Karror Pakka at Rs5,600 and 200 bales, Vehari at Rs5,600.