Cotton unchanged

Karachi

Cotton trade slowed down at the Karachi Cotton Exchange on Friday, while spot rates remained unchanged.

The spot rates stood unchanged at Rs5,950/maund (37.324kg) and Rs6,377/40kg. Ex-Karachi rates also remained firm at Rs6,095/maund and Rs6,532/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. An analyst said slow cotton arrivals in the market stabilised the prices, which were, otherwise, going downwards.

A total of 18 transactions were recorded of around 11,000 bales at a price of Rs5,850 to Rs6,225/maund. Deals were recorded from Tando Muhammad Khan, Kotri, Mirpurkhas, Sanghar, Hyderabad, Tando Adam, Shahdadpur, Nawabshah, Khairpur and Rohri from Sindh and Mianwali, Mohammadpur Dewan, Shadan Lund, Burewala, Rajanpur, Haroonabad, Fazilpur, Dera Ghazi Khan and Khanewal from Punjab.