Cotton prices ease further – positive for textile composite sector – Alfalah Securities Limited

Karachi, July 23, 2012 (PPI-OT): The higher arrival of phutti has led to ease off cotton prices where Karachi Cotton Association (KCA) has revised down its spot rates by PKR 300 per maund to PKR 5,800 during the week as against PKR 6,100 last week.

According to Alfalah Securities Limited, this bodes well for the textile composite or value added sector by lower the raw material cost would help improve the margins of these companies.