By admin       2017-10-10

Cotton arrivals remained slow at the Karachi Cotton Exchange on Monday, while spot rates increased Rs50/maund.Spot rates rose to Rs6,050/maund (37.324kg) and Rs6,484/40kg. Ex-Karachi rates also increased to Rs6,195/maund and Rs6,639/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.An analyst said the market is tight because of an increase in demand and decline in arrivals. “Seed-cotton arrival in ginning factories is short that affected the supply and spot rates increased,” he added. A total of 16 transactions were recorded of around 13,000 bales at a price of Rs6,150 to Rs6,250/maund. Deals were recorded from Saleh Pat, Rohri, Khairpur, Layyah, Muhammad Pur Deewan, Rajanpur, Mianwali, Bahawalpur, Jalalpur, Khanewal, Alipur, Chistian, Bahawalnagar, Tonsa and Mian Channu.

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