Karachi
Cotton demand remained higher on Wednesday, as 32,400 bales were traded in Sindh and Punjab regions. The spot rates at the Karachi Cotton Exchange closed flat at Rs6,050/maund, while the commodity was actually traded at the rates ranging from Rs5,650/maund to Rs6,300/maund.
Dealers said the demand was higher from the millers and exporters; however, there was enough supply to cater to the demand by the spinners to meet the orders from other textile and garment manufacturers.
Growers have sown more corn and sugarcane this season and reduced cotton acreage. Corn and sugarcane producers benefit from tariffs that insulate domestic market prices from the international market, while cotton producers face lower prices and competition from cotton imports.
The Securities and Exchange Commission of Pakistan logo. — APP/File ISLAMABAD: The three-day capacity building...
The image shows the logo of the Securities and Exchange Commission of Pakistan . — APP/FileISLAMABAD: The Securities...
The picture shows a logo of Federation of Pakistan Chambers of Commerce & Industry . — APP/FileKARACHI: The...
This image released on July 14, 2023, shows the logo of InDrive. — Facebook/inDriveKARACHI: inDrive, a ride-hailing...
Gold bars can be seen in this image. — AFP/FileKARACHI: Gold prices increased by Rs2,500 per tola on Friday in the...
This photo illustration shows Japanese 10,000 yen banknotes in Tokyo on November 19, 2021. — AFPTokyo: The yen...