By admin       2017-10-12

Cotton arrivals increased at the Karachi Cotton Exchange on Wednesday, while spot rates remained unchanged. The spot rates stood firm at Rs6,100/maund (37.324kg) and Rs6,537/40kg. Ex-Karachi rates also remained unchanged at Rs6,245/maund and Rs6,692/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. An analyst said the market is tight. Seed-cotton is short, while picking has started in Rajanpur, Daharki and Ghotki. Picking had already been done in lower Sindh, he said. “International market is also stable,” he said, adding that “Crop is expected higher that might control the prices.” A total of 28 transactions were recorded of around 22,000 bales at a price of Rs6,175 to Rs6,300/maund. Deals were recorded from Saleh Pat, Rohri, Khairpur, Vehari, Shujaabad, Burewala, Bahawalpur, Mianwali, Khanewal, Bahawalnagar and Layyah.

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