| Official price up but pre-Eid cotton trading subdued KARACHI (January 27 2004): Dullness prevailed in the cotton market on Monday as leading buyers kept on the sidelines due to less buying interest, relevant sources said.
The official spot prices picked up Rs 25.
Trading was relatively low as prices showed firmness and buyers took a breather to buy time and then to decide about new purchases, they added.
The spinners are quite worried as quality cotton is fast exhausting and prices are turning bullish, market sources said.
In addition, the market sources said that transportation problem was also a leading factor behind the thin business these day. Eid-ul-Azha is knocking at the door and cattle dealers needed trucks to bring sacrificial animals from upcountry centres.
Around ten thousand bales of cotton from Sindh and Punjab sold at prices ranging between Rs 2900 and Rs 3345.
Courtesy Business
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