By admin       2018-08-08

Karachi : Trading activity increased at the Karachi Cotton Exchange on Tuesday, while spot rates decreased Rs300/maund. Karachi Cotton Association decreased the official spot rates to Rs9,100/maund (37.324kg) and Rs9,752/40kg. Ex-Karachi rates also fell to Rs9,260/maund and Rs9,923/40kg with Rs160 and Rs171 as upcountry expenses, respectively. An analyst said prices dropped in the market, as supply increased. “Market prices will keep fluctuating looking at the supply in the market, while the crop is low that will affect the prices upwards,” he added. Karachi cotton market recorded 13 transactions of around 12,000 bales at the rate of Rs9,175 to Rs9,300/maund. The deals were noted from Tando Adam, Shahdadpur, Sanghar, Mirpurkhas, Hyderabad, Khadro, Burewala, Vehari, Haroonabad, Chichawatni, Mian Channu, Hasilpur and Gojra.

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