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Thursday March 28, 2024

Cotton firm

By our correspondents
April 29, 2017

Karachi

No trading was witnessed at the Karachi Cotton Exchange on Friday, while spot rates remained unchanged.

The spot rates remained unchanged at Rs6,700/maund (37.324kg) and Rs7,180/40kg. Ex-Karachi rates also stood firm at Rs6,835/maund and Rs7,325/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

An analyst said slow activity shows less interest of the buyer, as yarn and fabric prices were down and mills were not interested to buy lint on higher rates, while ginners were not ready to reduce prices.

According to the latest data released by the Trade Development Authority of Pakistan (TDAP), Pakistan registered cottons exports of 131,711 bales of 2015/16 and 2016/17 crops till April 7.

A total of 111,298 bales were shipped during this period. Pakistan imported 272,461 bales till March 31, 2017.