KARACHI: Steady conditions prevailed on the cotton market on Saturday as buying remained restricted due to slow offtake of cotton yarn and piling up of yarn stocks with spinning mills.
The market generally remained easy owing to lack of interest from spinners and ginners unwilling to part ways with their quality cotton stocks.
The higher price quoted by ginners for quality cotton has restricted trading activity as spinners are reluctant to pay beyond a certain price line.
The big spinning groups, on the other hand are reported to be keen on imports of cotton.
Reports from cotton fields suggest that the quality of phutti (seed-cotton) is deteriorating fast and textile mills are not ready to lift poor quality cotton from ginners.