Pakistan Local Cotton Prices and Market Commentary 17th April 2017

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Cotton prices on Wednesday came under pressure in the absence of buying from spinners who are faced with liquidity crunch. The slow off-take of cotton yarn and falling exports of textile goods continue to depress cotton demand, brokers said. Though the textile industry had been raising voice against long delay in payment of their refunds, the Federal Board of Revenue has so far remained indifferent to the issue. Though world cotton markets slightly recovered, prices on the domestic market came under pressure, brokers said.

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