By admin       2018-04-05

Trading improved at the Karachi Cotton Exchange on Wednesday, while spot rates decreased Rs100/maund. The spot rates fell to Rs7,300/maund (37.324kg) and Rs7,823/40kg. Ex-Karachi rates also decreased to Rs7,445/maund and Rs7,978/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. An analyst said since less than 500,000 bales are left with the ginners, buyers kept an eye on the quality stocks, which were reduced. “Big mills are relying on imported lots and deals for the import of over three million bales have been recorded,” he added. Karachi cotton market recorded eight transactions of 3,500 bales at a price of Rs6,400 to Rs7,000/maund. Deals were recorded from Faqirwali, Khanewal, Fort Abbas, Samundri, Gojra, Pul Bagar, Lodhran and Yazman Mandi.

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