KARACHI: The cotton market has faced low trend as most of the textile millers stayed away from the buying over possible fall in commodity price as the local cotton market down by over 30 percent to 4,300 bales.
The price of the commodity at the world markets, including US and India, have fallen significantly in the last two weeks, but price of locally-grown commodity remained stable at around Rs5,200 per maund (37.324 kilograms) in the same period, he said.
Traders bought 4,300 bales at Rs3,800 to Rs5,200 per maund as compared to 6,200 bales bought at Rs4,700 to Rs5,200 per maund a day ago, the Karachi Cotton Association (KCA) reported.
