Cotton unchanged

Karachi:Trade activity decreased at the Karachi Cotton Exchange on Thursday, while spot rates remained unchanged.
The spot rates stood firm at Rs6,400/maund (37.324kg) and Rs6,859/40kg. Ex-Karachi rates also remained unchanged at Rs6,545/maund and Rs7,014/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.
An analyst said the market is down after fog hits Punjab. “The market is under pressure and prices have come down by Rs300 in the local market,” he added.
Mills have made contracts for the import of 1.6 million bales from the US, Brazil, South Africa and Central Asian countries. A total of 20 transactions were recorded of around 13,000 bales at a price of Rs6,050 to Rs6,700/maund.
Notable deals were recorded from Tando Adam, Daharki, Saleh Pat, Khairpur, Liaquatpur, Rahimyar Khan and Taunsa.