Cotton down
Karachi
Slow trading was witnessed at the Karachi Cotton Exchange on Wednesday, while spot rates decreased Rs50/maund.
The spot rates decreased to Rs6,800/maund (37.324kg) and Rs7,288/40kg. Ex-Karachi rates also fell to Rs6,935/maund and Rs7,433/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
An analyst said slow trading was witnessed at the cotton market, as very little lots were left with the ginners. “Millers are preparing for the new crop, which is likely to start from the middle of June, as one mill from Punjab made advanced deal from Sindh’s cotton,” he added.
The cotton market recorded three transactions of around 1,000 bales at Rs6,500 to Rs7,200/maund. Sanghar’s 400 bales were sold at Rs6,500/maund on conditional basis, while 200 bales of Liaquatpur and 400 bales of Khanpur were each sold at Rs7,000/ maund.
-
Cure Flu With Theses Two Golden Foods -
King Charles Delayed Taking Firm Stance Against Andrew But William Pushed Action -
Toronto Blue Jays Roster Faces Setback With Multiple Injury Concerns -
Demi Lovato Leaves Fans Disappointed With Unexpected Announcement -
Pacers Vs Knicks Overtime Thriller Ends In Heartbreak For New York -
Who Owns The Ambassador Bridge? New Report Links Owner Matthew Moroun To Trump’s Threat -
ICE Detention Center Plan Sparks Controversy In Maryland As Lawmakers Push Back -
Blood Pressure Medication Recalled After Wrong Tablets Found In Bottles -
Why Ariana Grande Wants A 'tiny Mouse' To Play Her In Biopic? -
Wind Chill Returns With Brutal Cold As Polar Vortex Stalls Over Canada -
Princess Beatrice, Eugenie ‘do Not Want To Be Seen In Public’ Because Of Dad -
Costco $20 Rule Explained As Employee Pay Climbs Across North America -
Strange Incident Happened At Nancy Guthrie's Home On Abduction's 10th Day -
Tumbler Ridge School Lockdown Underway As RCMP Investigate School Shooting -
Royal Family Knows There Can Be ‘no More Glossing’ Of Andrew Downfall -
Britney Spears Quietly Parts Ways With Her Music Catalog: Report