Cotton Market: Monsoon Rains Slow Down Phutti Arrivals: August - TopicsExpress

Cotton Market: Monsoon Rains Slow Down Phutti Arrivals: August 31, 2014. Monsoon slight rains in Sindh and Punjab caused temporary fall in seed cotton arrivals on the cotton market on Saturday, dealers said. The official spot rate managed to hold overnight level at Rs 5,600, they added. In ready session, trading activity came down, as over 12,000 bales of cotton changed hands between Rs 5600 and Rs 5800, they said. In Sindh, prices of seed cotton were unchanged at Rs 2600-Rs 2650 and in Punjab prices were at Rs 2600-Rs 2700, they said. Some brokers said slight downpour in both Sindh and Punjab stopped seed cotton arrivals and also causing stability in the rates. Cotton analyst, Naseem Usman said that rains are good for the standing crop, this factor is giving an impression that production may improve in days to come.

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