Karachi
Cotton demand remained higher on Thursday, as 42,800 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 Rs5,750/maund to Rs6,350/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.
Chinese power company had intended to acquire up to 18.336 billion ordinary shares of K-Electric, representing 66.4...
MARI also successfully drilled and tested another appraisal well in the Mari Ghazij formation located in Mari D&PL
Gold rates decreased by $30 to $2,381 per ounce in the international market
Growing number of Americans have seen their savings dwindle as rising prices squeeze budgets while interest rates stay...
IMF will closely watch the privatization of PIA by the end of June
PSX lays down the groundwork to encourage listed companies to adopt ESG reporting in line with global standards
