Trade turnover of cotton remained low at the local markets, while prices remained firm around Rs7,200 per maund, a dealer said on Wednesday.
“Cotton trading remains low at the local markets,” a trader at the Karachi Cotton Exchange said, adding that the decline in sales of cotton yarn has lowered the demand for cotton in the country.
Moreover, exporters are not actively playing at the cotton markets these days. This trend also kept the trade turnover on the lower side, he said.
Traders exchanged 3,062 bales at Rs7,000 to Rs7,175 per maund as compared to 3,834 bales traded at Rs6,100 to Rs7,200 per maund on Monday, the Karachi Cotton Association (KCA) reported.
Meanwhile, the KCA kept its cotton spot rate unchanged for the sixth working day at Rs Rs7,000 per maund.