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Commodities: Listless trading on cotton market
KARACHI: Cotton trading was listless on Monday in the absence of buying interest. Slow off-take of cotton yarn and liquidity crunch being faced by the textile industry had its toll over the trading.
The huge amount of outstanding refunds belonging to exporters of textile goods was causing liquidity crunch in the industry which could not meet its future export commitments.
This and the slow off-take of cotton yarn were causing adverse impact on cotton trade, brokers said.