Cotton prices moving further lower on Tuesday after dull trading activity at cotton market. Falling cotton prices also impacted phutti (seed cotton) negatively, with Punjab quality being quoted between Rs2,700-2,900 and Sindh variety in the range of Rs2,700-3,300 per 40kg. Previously phutti prices were being quoted between Rs2,900-3,500 per 40kg.
However, some buying interest was noted at the lower level as many spinners preferred to cover up their positions amid falling cotton prices. Anothe
Better grades of lint kept the physical prices stable while trading volumes in second grade of cotton remained on the higher side during the trading session in major stations of Punjab and Sindh.
Buyers in anticipation of an upward change in prices in the upcoming trading sessions made forward deals of better grades. Buyers made forward deals for a month period at around Rs 6,550 per maund and Rs 6,600 per maund.
Buyers purchased commodity at a premium price and mills consolidated their in
