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Commodities: Cotton prices fall
KARACHI: Downslide in cotton prices gained momentum on Monday following weaker demand for yarn from traditional buyers particularly China and Hong Kong.
The correction in cotton prices, which crept in last Saturday, became more conspicuous as trading activity suddenly shrank in the background of weaker demand from world buyers of cotton yarn. Trading activity on ready counter suddenly declined as buyers withdrew to the sidelines.
Trading activity on ready counter suddenly declined as buyers withdrew to the sidelines.
According to market sources, during the recent cotton related events held in China, placing of cotton yarn orders was relatively slow which created panic for suppliers like India and Pakistan.