The cotton market was easy yesyerday as market remained devoid of much activity except short covering from some needy millers and exporters.
Though phutti (seed cotton) arrivals are slowing down, lint prices continue to stay under pressure influenced by global factors and falling petroleum prices.
The larger than expected official estimates of cotton production at 15 million bales are also having their impact on the market as already there as strong indications that by end of this month around 14m bales would have been harvested.
However, brokers believe that with three months still to go for phutti picking the country would be harvesting a bumper cotton crop of around 15m bales.
