Further rise in futures provides support to already tight local cotton market
Karachi, March 29, 2013 (PPI-OT): The further rise in futures has provided supports to an already tight local cotton market. Ginners, particularly those holding earlier ginned stocks, are holding back supplies in hope of further price increases. The current price range for premium quality lots remains at between Rs 6,700 and 7,200 per maund (83.00/89.20 US cents per lb), ex-gin. Mill buying has remained patchy.
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