Price of high quality cotton declined by Rs125 per maund to Rs6,525 per maund at the local markets, while trade turnover of the commodity remained moderate, a dealer said on Saturday.
“Trade activities remained dull at the cotton markets,” Naseem Usman, a broker at the Karachi Cotton Exchange, said.
The recent depreciation in the dollar against the rupee has made imports of cotton and cotton yarn cheaper in Pakistan, while businessmen are seen capturing the opportunity, he said.
Of the