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Trading starts on cotton market on reduced
prices
KARACHI (April 13 2004): Trading in cotton was
evident on Monday as spinners lifted a good
quantity at the falling prices, relevant sources
said.
The official spot rate was also pulled down by Rs
25 to Rs 2850.
In physical trading, around 6000 bales of cotton
changed hands at price between Rs 2450 and Rs
3000.
Cotton futures from New York was not at hand.
Spinners were slightly enthusiastic to take
advantage of ruling low cotton prices. However,
sources were not very upbeat whether the trend was
likely to continue.
Courtesy Business Recorder
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Pakissan.com; Advisory Point
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