Commodities: Slowdown continues on cotton market.

MULTAN -- Trading activity on the cotton market remained slow on Friday as buyers decided not enter into deals ahead of the release of Pakistan Cotton Ginners Association (PCGA) fortnightly report. The Karachi Cotton Association decreased its spot rate by Rs50 at Rs9,000.

Cotton broker Syed Mudabbir Shah said that trading activities are sluggish as ginners await the PCGA report which will be released on Feb 3.

The arrival of phutti (seed cotton) in the market has shrunk to the extent that ginning factories are shutting down, he said. 'Even the farmers have stopped selling phutti since they are also pinning their hopes on the outcome of the PCGA report,' Shah added.

The export of Chinese cotton products and other goods have been halted. Pakistani importers have also stopped opening of LCs of Chinese cotton products.

Cotton analyst...