Cotton down

Shanghai

Normal trading activity was recorded at the Karachi Cotton Exchange on Tuesday, while spot rates decreased Rs50/maund.

The spot rates fell to Rs5,900/maund (37.324kg) and Rs6,323/40kg. Ex-Karachi rates also decreased to Rs6,045/maund and Rs6,478/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said rain is expected in cotton growing areas of Sindh that might deteriorate the quality of cotton. KCE recorded 20 transactions of around 15,000 bales at a price of Rs5,900 to Rs6,100/maund. Transactions were recorded from Mirpurkhas, Sanghar, Hyderabad, Kotri, Shahdadpur, Tando Adam, Buchari, Sinjhoro, Nawabshah, Bahawalpur, Mongi Bangla, Kabirwala, Bahawalnagar, Sahiwal, Faqirwali, Bakhar, Vehari, Burewala, Chichawatni and Mianwali.