KARACHI: Steady flow of buying orders kept cotton prices firm on Thursday with buyers showing keen interest in both Sindh and Punjab crop.
Activity slightly declined owing to high cotton prices for which small- and medium-sized textile spinners were not ready to oblige.
Currently, the biggest issue worrying industry is short crop. There are reports that large textile spinning groups have already started booking cotton imports to meet the expected shortfall in cotton production.
Market sources believe that many spinners are reluctant to enter into imports at an early stage as there could be currency variations by the time shipments are physically made.