KARACHI: Cotton prices remained steady on Saturday amid slow flow of buying orders originating from some needy textile spinners.
Barring a few spinners who, did not opt to import cotton, participated in trading and continued to give a steady price line generating slow to moderate business activity.
Despite short crop in both India and Pakistan, cotton prices continue to be lower and there was no major price surge which is a normal phenomenon under such situations.
Meanwhile, large textile spinning groups are currently busy in placing import orders and according to some rough estimates, 3 million bales order had been already placed. Future imports between Feb 1-Jun 30 will be customs duty and sales tax free.