Trading failed to pick up on the cotton market yesterday amid selective buying for quality lint.
Floor brokers said that provisional phutti (seed cotton) arrival figures indicated that around 13 million bales have reached ginneries up to Dec 15, lending credence to estimates that crop size would be nearly 15m bales.
The spinners, however, looked for quality cotton which was in short supply.However, ginners were reluctant to shed their quality lint stocks which restricted trading.
Prices also generally remained steady due to slow trading.
On the world cotton markets, the US and China remained easy while India was steady as the state-owned corporation of India has been given the task to purchase around 8m bales.
