Karachi: Active trading continued at the Karachi Cotton Exchange on Wednesday, while spot rates increased Rs50/maund.
The spot rates increased to Rs6,150/maund (37.324kg) and Rs6,591/40kg. Ex-Karachi rates also increased to Rs6,295/maund and Rs6,746/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. An analyst said the mills kept building their stocks despite arrival of 36 percent more cotton in the ginning factories by October 15, 2017. “Quality cotton is being purchased in bulk,” he added.
A total of 28 transactions were recorded of around 28,000 bales at a price of Rs5,600 to Rs6,300/maund. Notable deals were recorded from Tando Adam, Khairpur, Rohri, Daharki, Ghotki, Saleh Pat, Bahawalpur, Mianwali, Dera Ghazi Khan, Shujaabad, Jalalpur and Rahimyar Khan.
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