By admin       2017-11-10

Cotton trade remained steady at Karachi Cotton Exchange on Thursday, while spot rate increased Rs100 a maund.Spot rate rose to Rs6,600 per maund (37.324 kg) and Rs7,073 per 40-kg. Ex-Karachi rates also increased to Rs6,745 per maund and Rs7,228 per 40-kg after addition of Rs145 and Rs155, respectively, as upcountry expenses.One analyst said panic buying continued in the market, which resulted in an increase in the spot rate. “Buyers are of the view that extreme heat in cotton growing areas in Punjab affected the crop quality, so they are building their positions.”A total of 27 transactions of around 23,000 bales at a price of Rs5,600 to Rs6,900 a maund were recorded. Notable deals were recorded from Ghotki, Daharki, Rohri, Moro, Nawab Shah, Khairpur, Shahdadpur, Tando Adam, Sadiqabad, Rahimyar Yar Khan and Fazilpur.

Download App

# #

Member Login