said after a little hiatus in the cotton market, spinners and mills
actively took part in trade. However, ginners disposed some of their
unsold stockpiles of about 0.2m bales on their asking prices on the
back of shortage in supplies. Dealers said that the demand will
continue to outstrip supply as there were still a few weeks in the
arrival of supplies from the new crop. ..The New York cotton
futures fell by 0.89 and 0.82 cents at 79.54 and 80.82 cents per lb for
both the ruling May and the forward July contracts respectively, while
on the other hand in the local market the official spot rates for
cotton were quoted higher at Rs5,475 per maund and Rs5,868 per 40 kgs,
according to the Karachi Cotton Association (KCA)”