August 20, 2008

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COTTON Highlights from 01-15,Aug 2008

Cotton futures went down sharply in New York, after unsuccessfully trying to rise above current range. Spinners were rejecting any new increase in their raw material costs. In India, cotton prices were quoted lower at major markets across north India while cotton prices traded steady-to-lower at the spot market across western India. In Pakistan, both the buying and selling was witnessed on the cotton market despite firmer condition prevailing as world reports about cotton predicting lower acreage during coming seasons.

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