Cotton down

Karachi

The Karachi Cotton Exchange witnessed moderate trading activity on Monday, while spot rate decreased by Rs50 per maund, a trader said.

Spot rate decreased by Rs50 to Rs6,250 per maund (37.324kg) and Rs6,698 per 40kg after a drop of Rs54. However, ex-Karachi price decreased to Rs6,385 per maund and Rs6,843 per 40kg after an addition of Rs135 and Rs145 as upcountry expenses respectively.

Exporters have booked 111,230 bales for the export from the current and old crops, of which 4,048 bales were registered from the old crop in between August 1 to November 23, while 107,182 bales were registered from the 2016/17 crop.

However, 81,387 bales have been shipped during this period. Of this, 4,061 bales were included from 2015/16 crop and 77,326 bales from 2016/17 crop.