By admin       2017-11-10

Normal trading was recorded at the Karachi Cotton Exchange on Wednesday, while spot rates increased Rs50/maund.The spot rates rose to Rs6,500/maund (37.324kg) and Rs6,966/40kg. Ex-Karachi rates also increased to Rs6,645/maund and Rs7,121/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.An analyst said the arrivals improved in the market, but demand remained higher that resulted in increase in the spot rates. He said the Cotton Crop Assessment Committee has kept estimates of cotton unchanged at 12.6 million bales, which remain questionable.A total of 27 transactions were recorded of around 22,000 bales at a price of Rs5,600 to Rs6,800/maund. Notable deals were recorded from Ghotki, Rohri, Khairpur, Shahdadpur, Tando Adam, Fazilpur, Rahimyar Khan, Sadiqabad, Alipur and Rajanpur.

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