Karachi
Normal trading continued at the Karachi Cotton Exchange on Tuesday, while spot rates decreased Rs50/maund.
The spot rates fell to Rs6,750/maund (37.324kg) and Rs7,234/40kg. Ex-Karachi rates also decreased to Rs6,885/maund and Rs7,379/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
Naseem Usman, chairman of the Karachi Cotton Brokers Association, said the season is nearing end so slow trading was witnessed. “Spot rates decreased because of season end trading at low prices,” he added.
The cotton market recorded only two transactions of around 1,400 bales at the price in between Rs6,900 and Rs6,925/maund. Rahimyar Khan’s 1,000 bales were traded at Rs6,900 to Rs6,925/maund and 400 bales of Sadiqabad exchanged hands at Rs6,925/maund.
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