Cotton increases

Karachi

Slow activity continued at the Karachi Cotton Exchange on Monday as cotton spot rate increased Rs50 a maund.

Spot rate rose to Rs6,750/maund (37.324-kilogramme) and Rs7,234/40-kg. Ex-Karachi rates also increased to Rs6,885/maund and Rs7,379/40-kg after addition of Rs135 and Rs145, respectively, as upcountry expenses.

Naseem Usman, chairman of Karachi Cotton Brokers Association said cotton stocks were moving towards the end of season, while spinners seemed interesting in buying and ginners making efforts to quickly sell the lint, as weight of lint decreased amid hot weather.

Cotton sowing already started in Sindh, while it would begin in the Punjab from April 15 in order to avoid pest attack. Government of Punjab is organising training sessions for the farmers in order to get more production through improving the sowing and picking practices.