Cotton firm

Karachi: Cotton arrivals increased at the Karachi Cotton Exchange on Tuesday, while spot rates remained unchanged.

The spot rates stood firm at Rs6,100/maund (37.324kg) and Rs6,537/40kg. Ex-Karachi rates also remained unchanged at Rs6,245/maund and Rs6,692/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said cotton arrivals increased in the market, which could reduce the prices, but quality lint supply kept the prices firm. “Production will be higher this year,” he added. A total of 36 transactions were recorded of around 42,000 bales at a price of Rs5,900 to Rs6,300/maund. Notable deals were recorded from Daharki, Ghotki, Rohri, Saleh Pat, Khairpur, Liaquatpur, Rajanpur, Vehari, Khanewal, Bahawalpur, Chishtian, Haroonabad, Faqirwali, Fort Abbas and Dera Ghazi Khan.