Karachi
Active trading continued at Karachi Cotton Exchange on Tuesday, while upcountry expenses increased Rs10 a maund.
Spot rate stood was unchanged at Rs6,350/maund (37.324 kilogrammes) and Rs6,802/40-kg. However, ex-Karachi rates rose to Rs6,495/maund and Rs6,960/40-kg after addition of Rs145 and Rs155 as upcountry expenses, respectively.
One analyst said upcountry expenses increased after a period of around two years, as transport charges also escalated.
Karachi Cotton Market recorded nine transactions of around 6,000 bales at a price of Rs6,350 to Rs6,700 a maund. Of which, 1,000 bales were traded from Sanghar, 800 bales from Hyderabad, 2,000 bales (Tando Adam), 1,000 bales (Shahdadpur), 200 bales (Golarchi), 400 bales (Sinjhoro), 100 bales (Burewala) and 100 bales each from Sahiwal and Chichawatni.
