By admin       2018-03-01

Dull trading was recorded at the Karachi Cotton Exchange on Wednesday, while spot rates increased Rs100/maund. The spot rates rose to Rs7,000/maund (37.324kg) and Rs7,502/40kg. Ex-Karachi rates also increased to Rs7,145/maund and Rs7,657/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. An analyst said very little quantity of cotton was left with the ginners, but whatever was left, they (ginners) wanted it to sell at higher rates, as production in the country remained lower than the actual demand by mills. Karachi Cotton Market recorded three transactions of around 4,500 bales at a price of Rs7,000 to Rs7,400/maund. Of these, 3,700 bales of Sadiqabad were traded at Rs7,400/maund, 600 bales of Khanpur at Rs7,275 and 200 bales of Rajanpur were traded at Rs7,000/maund.

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