Cotton improves

Karachi :Normal trading continued at the Karachi Cotton Exchange on Thursday, while spot rates increased Rs100/maund.
The spot rates rose to Rs6,600/maund (37.324kg) and Rs7,073/40kg. Ex-Karachi rates also increased to Rs6,745/maund and Rs7,228/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.
An analyst said the spot rates increased due to increasing demand by spinners. Pakistan needs imports to fulfil the consumption requirements. “The market is likely to remain stable in the coming days, as demand will stay,” he added.
A total of 20 transactions of around 21,000 bales were recorded at a price of Rs6,400 to Rs7,000/maund. Notable deals were recorded from Ghotki, Daharki, Rohri, Saleh Pat, Khairpur, Mian Channu, Rajanpur, Sadiqabad, Jalalpur, Shadan Lund and Tonsa.