By admin       2018-07-06

Dull trading continued at the Karachi Cotton Exchange on Thursday, while spot rates increased Rs100/maund. The spot rates increased to Rs8,000/maund (37.324kg) and Rs8,574/40kg. Ex-Karachi rates also rose to Rs8,145/maund and Rs8,729/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. An analyst said trade was slow because of rain in Punjab. “Activity is slow. Currently, rain is beneficial to the crop. However, if water stays in the field for a long time, it will damage the crop,” he said. “Partial trade is being recorded from Sindh and Punjab. Rates have increased due to short supply than demand,” he added. Karachi cotton market recorded only two domestic transactions of 800 bales. Of these, 600 bales of Tando Adam and 200 bales of Burewala were each sold at Rs8,200/maund.

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