Pakistan Cotton Price High Quality Cotton Shortage Market Downturn

Pakistan's cotton prices soared and quality cotton was in short supply. Buyers on the cotton market were puzzled on Wednesday.

The official price of Karachi Cotton Association (KCA) increased by 50 rupees to 3650 rupees.

Only two pactions ended at the highest price of 4000 rupees.

Some buyers have looked around, and they have already bought part of the supply. Others want to buy more after the price goes down.

People who buy some of their suppliers according to their promises are worried because these cotton qualities do not meet the export requirements.

If textile mills fail to meet the quality requirements of the world market, they may lead to a decline in the quality of textiles.

At the same time, cotton ginning merchants have high quality cotton in their hands, but they do not plan to sell their cotton at current prices. Instead, they are waiting for prices to continue to rise, so as to get higher profits.

Cotton futures slumped on Tuesday, and investment funds short, leading to a sharp fall in the market. Cotton contracts may weaken further in the next few days due to the pressure of additional pressure.

Monday is a holiday, and the market is closed.

Benchmark cotton contract fell 2.96 cents in July, closing at 66.25 cents per pound, with a trading range of 66.21-69.65 cents.

The lead contract is the lowest closing price since late December.

New cotton lost 3 cents in December and 75.01 cents a pound, the highest point at 78.44 cents.

North Sindh has sold 400 packages, with a price of 4000 rupees, 400 packages in Harappa and 4000 rupees.