Cotton improves

Karachi

Improved trading was witnessed at the Karachi Cotton Exchange on Monday, while spot rates increased Rs50/maund.

The spot rates rose to Rs6,350/maund (37.324kg) and Rs6,805/40kg. Ex-Karachi rates also increased to Rs6,485/maund and Rs6,950/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

An analyst said cotton arrivals remained lower than demand in the market that resulted in an increase in prices. KCE recorded eight transactions of around 4,000 bales of the new crop from Sindh and Punjab at a price of Rs6,350 to Rs6,500/maund.

Of these, 400 bales of Mirpurkhas, 100 bales of Jhole, 200 bales of Sinjoro, 66 bales of Sanghar, 400 bales of Tando Adam, 1,200 bales of Shahdadpur, 300 bales of Chichawatni and 400 bales of Burewala were traded in the market.