Weekly Cotton Review of Pakistan Cotton Market
Cotton prices continued to decline in the last week amid weak trade. There was also a slowdown in the international cotton market. Karachi Cotton Brokers Forum President Naseem Usman has said that the bearish trend in the international cotton market has remained due to the recession.
Cotton prices in Sindh province have further declined to Rs 17,000 to Rs 18,500 per head. The rate of footi available in small quantity is Rs 5500 to 8300 per 40 kg. Cotton prices in Punjab range from Rs 17,500 to Rs 18,500 per head while footy costs Rs 6,000 to Rs 8,700 per 40 kg.
There is a decrease in the demand and prices of cottonseed, oilseeds and oil. The spot rate committee of the Karachi Cotton Association reduced the spot rate by Rs 300 per head and closed it at Rs 18,700 per head.
