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Commodities: Cotton maintains easy outlook
KARACHI: The cotton market on Thursday remained subdued as buyers were conspicuous by their absence. The undertone was easy, though demand for quality cotton was evident.
Leading textile spinners are said to be busy in clearing and making payments towards imported cotton, thereby contributing to lacklustre conditions in the market.
According to market reports, most spinners booked cotton when the currency parity was at Rs125 which has now surged to Rs139 to a dollar and this has resulted in huge financial burden on the industry.