Cotton stable

Normal trading was witnessed at the Karachi Cotton Exchange on Wednesday, while spot rates remained unchanged.
The spot rates stood firm at Rs6,500/maund (37.324kg) and Rs6,966/40kg. Ex-Karachi rates also remained unchanged at Rs6,645/maund and Rs7,121/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. Naseem Usman, chairman of the Karachi Cotton Brokers Association (KCBA), said the market prices remained high amid expectations of shortfall in crop and deterioration of the quality of crop in fields.
A total of 20 transactions of around 21,000 bales were recorded at a price of Rs6,200 to Rs6,985/maund. Notable deals were recorded from Ghotki, Daharki, Rohri, Saleh Pat, Khairpur, Mirpur Mathelo, Rahimyar Khan, Sadiqabad, Mianwali, Haroonabad and Vehari. 