By admin       2018-02-07

Lacklustre conditions prevailed on the cotton market on Tuesday, with buyers and sellers staying away from the proceedings. The undertone was weak and outlook uncertain. The downward trend in world leading cotton markets has impacted the domestic market adversely. However, low demand for cotton from the value-added textile sector is cited as another factor. According to market sources, substantial quantity of Indian-origin grey cloth is making its way illegally via Dubai into the local market. Chairman Pakistan Apparel Forum (PAF) Jawed Bilwani has already raised this issue with the government. He said that a large number of local looms have closed down due to large quantity of Indian grey cloth which has flooded the market. Moreover, slow demand for cotton yarn has forced many spinners to move cautiously and avoid building up their inventories

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