Cotton firm
Karachi
Trading improved at the Karachi Cotton Exchange on Saturday, while spot rates remained firm.
The spot rates remained unchanged at Rs6,300/maund (37.324kg) and Rs6,752/40kg. Ex-Karachi rates also stood firm at Rs6,435/maund and Rs6,897/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
An analyst said trade improved at the market, but it is likely to stay
disturbed with the monsoon rains in the cotton growing areas of Sindh and Punjab.
KCE recorded trade of 2,600 bales from seven stations at a price of Rs6,350/maund to Rs6,400/maund.
Trade was recorded from Mirpurkhas, Sinjoro, Hyderabad, Kotri, Tando Adam, Sanghar and Pithoro.
With the exception of two transactions from Chichawatni and Burewala a few days ago, no trade was recorded from Punjab for the new crop.
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