“The prices were dropped after Banola’s (cotton oil seeds) price decreased by Rs100 to Rs1,150/40kg, at the time when buying should pick up significantly, as last year’s build stocks of cotton with textile mills are believed to be finished by September-end, a broker at Karachi Cotton Exchange said”However, KCA noticed that traders bought 12,000 bales at Rs4,700 to Rs4,750 per maund (37.324 kilogra. as compared to 12,400 bales bought at a similar price a day ago. ”
Date:8/23/2015
Source:AllAfrica.com