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December 7, 2017

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Cotton unchanged

Karachi: Active trading was recorded at the Karachi Cotton Exchange on Wednesday, while spot rates remained firm.
The spot rates stood unchanged at Rs6,600/maund (37.324kg) and Rs7,073/40kg. Ex-Karachi rates also remained firm at Rs6,745/maund and Rs7,228/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.
An analyst said due to delay in permit for import of lint from India, mills moved in the local market and active trade was recorded. “India is having production and quality issues too, as 50 percent crop has been affected by pest attack in Maharashtra province,” he added.
A total of 20 transactions were recorded of around 22,000 bales at a price of Rs6,250 to Rs7,000/maund. Notable deals were recorded from Mirpur Mathelo, Khanpur Maher, Ghotki, Daharki, Khairpur, Shahdadpur, Rahimyar Khan, Shujaabad, Mianwali, Chistian and Haroonabad.

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