By admin       2018-03-27

Karachi : Dull trading was recorded at the Karachi Cotton Exchange on Monday, while spot rates remained unchanged. The spot rates stood firm at Rs7,600/maund (37.324kg) and Rs8,145/40kg. Ex-Karachi rates also remained unchanged at Rs7,745/maund and Rs8,300/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. Naseem Usman, chairman of the Karachi Cotton Brokers Association, said that due to the rupee devaluation, lint price has again increased. “However, trade volume has decreased in the market,” he added. Karachi cotton market recorded four transactions of around 2,000 bales at a price of Rs6,400 to Rs7,900/maund. Of these, 200 bales of Rahimyar Khan and 400 bales of Khanpur were sold for Rs7,900, 1,000 bales of Haroonabad at Rs6,400 to Rs6,700/maund and 200 bales of Vehari exchanged hands for Rs6,800/maund.

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