By admin       2018-05-03

Karachi : Trading improved at the Karachi Cotton Exchange on Wednesday, while spot rates increased Rs100/maund. The spot rates rose to Rs7,500/maund (37.324kg) and Rs8,038/40kg. Ex-Karachi rates also increased to Rs7,645/maund and Rs8,193/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. A trader said cotton trade increased after a slowdown for a few weeks, as new crop might be late and the mills wanted to build up their stocks. Karachi cotton market recorded four transactions of around 8,500 bales at the price in between Rs6,300 to Rs8,000/maund. Of these, 400 bales of Rohri were sold at Rs7,000/maund, and 7,233 bales of Khanpur at Rs7,400 to Rs8,000/maund, respectively. New York cotton market recorded an increase on its futures. May futures rose 0.44 cents to 85.12 cents/pound and July futures increased 0.64 cents to 84.48 cents/pound.

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