ISLAMABAD: The trade of cotton improved to 4,349 bales. The mill owners returned to the local markets and bought to keep their regular production operations going. The KCA kept its official rate for cotton unchanged for the second working day at Rs4,750/maund.
They resume buying when their cotton inventories reduce next to nil, or they receive new sales orders,” said a broker at the Karachi Cotton Exchange.
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Traders bought a total of 4,349 bales at Rs3,450 to Rs4,950/maund (37.324 kilograms)as compared to 2,200 bales bought at Rs4,950/maund a day ago, the Karachi Cotton Association (KCA) said.
The broker said many of the financially strong textile mills were buying Indian cotton, as they were better in quality than the one produced locally.
