With slow demand from spinners on Thursday cotton prices eased further. The Karachi Cotton Association also reduced its spot rate by Rs50 on a maund (around 37 kilograms).
According to yarn broker, as many as 80 spinning mills have been shifted to polyester and cotton blend fabrics from pure cotton fabrics which resulted into less consumption of cotton yarn.
Imports of Indian yarn have increased as the production cost of cotton yarn in Pakistan was 16.5 percent higher as compared to India.
