Karachi
Dull trading was recorded at the Karachi Cotton Exchange on Thursday, while spot rates decreased Rs50/maund.
The spot rates decreased to Rs6,600/maund (37.324kg) and Rs7,073/40kg. Ex-Karachi rates also fell to Rs6,735/maund and Rs7,218/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
An analyst said the market activity remained slow because of end of the season and upcoming Eid holidays. “A few lots of new crop have also been traded in the market, but prices are too low, as millers remain on the sidelines,” he said.
There would be an increase in the arrivals after Eid, as lint from Punjab is also expected, but prices might remain under pressure, he added.
Cotton market recorded only one transaction of 600 bales from Khipro at Rs5,750/maund.
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