Tag: dents

Financial crunch dents cotton buying

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article image STAFF REPORT IBD: Most of the mills and spinners partially remained away from the cotton market due to financial turmoil mainly because of the change in official spot rate, dealers said.Prices of seed-cotton (phutti) in Sindh were at Rs 1800-2300 and, in Punjab Rs 2200-2650, they said. In ready dealings, approximately 7000 bales of cotton changed hands at Rs 4100-5800, they said.They said that both buyers and sellers were in the mood to do business, but lack of finances made a big hurdle.The…Read More