Cotton market remains stable in Pakistan
Pakistan Times Business & Commerce Desk

ISLAMABAD: Pakistan cotton market maintained firm trend during the month of June. However, the spot rate remained unchanged at 2525, without upcountry expenses.

Yarns and Fibers online reported Sunday that the Trading Corporation of Pakistan (TCP) has issued new tender to sell 33,000 bales of cotton which is expected to be open on June 26.

It said, the spinners were found buying cotton to meet the near-term demand and the TCP tenders were providing them opportunities to make purchases.

The New York Board of Trade July contract increased 0.61 cent to close at 52.44 cents per lb, in a band from 52 to 52.55 cents.

New-crop December gained 0.22 to 57.68 cents, trading from 57.25 to 57.90 cents, and the rest increased 0.13 to 0.78 cent, the report said.●