Cotton declines | Business | thenews.com.pk
Sun November 19, 2017
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Business

November 15, 2017

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Cotton declines

Cotton declines

Karachi :Active trading was recorded at the Karachi Cotton Exchange on Tuesday, while spot rates decreased Rs100/maund.

The spot rates decreased to Rs6,450/maund (37.324kg) and Rs6,912/40kg. Ex-Karachi rates also fell to Rs6,595/maund and Rs7,067/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said the spot rates declined because of an increase in the arrivals. “Demand remained still high in the market, but any arrival in bulk or decline in quality will decrease the prices,” he added.

A total of 30 transactions were recorded of around 26,000 bales at a price of Rs6,150 to Rs6,700/maund. Among them, notable deals were recorded from Ghotki, Khairpur, Rahimyar Khan, Rajanpur, Sadiqabad, Bahawalpur, Haroonabad, Mianwali, Fort Abbas and Chistian.     

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