KARACHI: The low demand has forced cotton price down by Rs100 per maund to Rs5,100 per maund at the local markets.
According to Karachi Cotton Association (KCA), traders bought a total of 9,500 bales (155 kilograms each) at Rs4,475 to Rs5,100 per maund as compared to 12,900 bales bought at Rs4,375 to Rs5,200 per maund on the previous working day. The KCA kept its official spot rate unchanged for the fourth working day at Rs4,950 per maund. The broker said many ginners are selling the commodity, which they had put aside for the government after the government halted its procurement drive.
