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Commodities: Cotton trading picks up
KARACHI: Higher demand for cotton was witnessed for the second consecutive day on Thursday as hopes of importing the commodity from India faded further.
A leading exporter is reported to have purchased 300 bales for exports.
Phutti (seed cotton) arrival from the fields is diminishing and market analysts believe the final crop size would not be more than 10.8 million bales for 2018-19 crop.
According to reports the current spell of rains has delayed cotton sowing for next season by around 15 days, particularly in lower Sindh where the crop is sown early. Presently, wheat harvesting was going on but has been halted because of rains, brokers said.