KARACHI: The cotton prices have increased in local market over strong demand from spinners and some exporters.
Traders purchased 12,000 bales of cotton where fine quality lint changed hands at the increased prices of Rs5,000-5,650/maund. The Karachi Cotton Association increased the cotton spot rate by Rs100 to Rs5,350/maund. Brokers said that slow arrival of phutti (seed cotton) to the ginning factories amid crop failure added to the woes of the spinners.
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