Commodities: Sluggish trading on cotton market.

MULTAN -- Trading activity on the cotton market failed on Thursday as ginners stayed away from any deals. However, prices remained stable. Karachi Cotton Association kept its spot rate unchanged at Rs9,100.

Cotton analyst Naseem Usman said the market will continue to be sluggish for the remaining part of the season.

There are reports that cotton sowing will begin early in Sindh, he said. 'Seed experts are predicting that the germination of the seed was up to 70 per cent in previous years but this year it would hardly be 50pc which will affect the next crop,' he added.

According to the latest US Agriculture Department weekly report, there was an increase of 6pc in net sale. Pakistan, which was the second largest buyer during the last couple of weeks, is on third position this time with 49,300 bales. The top two major buyers were Vietnam and Turkey with 152,000 bales and 74,000 bales respectively. There was a...

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