By admin       2018-09-25

Karachi: Trading resumed at the Karachi Cotton Exchange on Monday after Muharram holidays, while spot rate decreased Rs100/maund. Karachi Cotton Association reduced the official spot rate to Rs8,100/maund (37.324kg) and Rs8,681/40kg. Ex-Karachi rates also decreased to Rs8,260/maund and Rs8,852/40kg after an addition of Rs160 and Rs171 as upcountry expenses, respectively. An analyst said trade is likely to increase, which might affect the prices downwards. Karachi cotton market recorded 13 transactions of around 8,000 bales at the rate of Rs7,950/maund to Rs8,250/maund. Deals were reported from Tando Adam, Shahdadpur, Hyderabad, Rohri, Saleh Pat, Khairpur, Mian Channu, Shadan Lund, Ahmedpur East, Haroonabad, Burewala, Chistian and Layyah.

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