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Commodities: New cotton crop deal at Rs8,100
MULTAN: The cotton market was stunned on Thursday with the first advance deal of new crop from Punjab at Rs8,100. The deal, comprising 200 bales, took place in Burewala. Prices of phutti (seed cotton) also increased up to Rs3,500 for advance deals.
Meanwhile, the Karachi Cotton Association kept its spot rate unchanged.
Experts said the jump in prices has worried spinners but is satisfactory for ginners and farmer.