KARACHI: Low buying and higher imports kept the cotton prices under pressure as its spot rates fell by Rs50, to Rs5,500 per maund.
The participation by the Trading Corporation of Pakistan was witnessed and around 2,000 bales from 2014-15 crop were transacted at Rs5,885 per maund.
The Karachi Cotton Association cut its spot rates by Rs50, to Rs5,500 per maund. Major deals on the ready counter were: 400 bales from Shahdadpur (at Rs4,200 per maund), 400 bales Dera Ghazi Khan (Rs5,450) and 400 bales Chani Goth (Rs5,700) (conditional).
