Trading activity on the cotton market failed to pick up as buyers remained on the sidelines yesterday.
Floor brokers said millers are eagerly waiting for new crop arrival which is expected by the end of this month from Sindh. However, there is some delay in cotton crop arrival in Punjab due to late sowing.
Presently, millers are facing shortage of quality lint because depleted stocks held by ginners from last crop are mostly of lower quality, brokers said.
Consequently, the market is currently waiting for new crop and only then some brisk activity could be witnessed, brokers added.
