KARACHI: The cotton prices witnessed declining trend and down to Rs 5,300 per maund mainly due to low demand for cotton yarn.
The market turnover remained low due to lack of buying interest from local spinners and mills in the end of the week. The Karachi Cotton Association kept the spot rate unchanged at Rs5,500/maund.
Brokers said trader sentiments remained bearish as they preferred to make small transactions in accordance with their immediate demand. They also said the market was failed to attract buying interest from local textile mills despite fall in prices.
