By admin       2018-09-20

Karachi : Trading activity slowed down at the Karachi Cotton Exchange on Wednesday, while spot rate decreased Rs50/maund. Karachi Cotton Association reduced the official spot rate to Rs8,200/maund (37.324kg) and Rs8,788/40kg. Ex-Karachi rates also dropped to Rs8,360/maund and Rs8,959/40kg after an addition of Rs160 and Rs171 as upcountry expenses, respectively. An analyst said international market remained down that also had an impact on the local market, which saw increased supply the other day. Karachi cotton market recorded 22 transactions of around 14,000 bales at the price of Rs8,150/maund to Rs8,375/maund. Deals were reported from Sanghar, Tando Adam, Shahdadpur, Nawabshah, Qazi Ahmed, Daur, Moro, Saleh Pat, Khairpur, Hasilpur, Haroonabad, Bahawalpur, Yazman Mandi, Chichawatni, Burewala, Rajanpur and a few other stations.

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