Cotton firm
By our correspondents
November 25, 2017
Karachi: Cotton arrivals increased at the Karachi Cotton Exchange on Friday, while spot rates remained firm.
The spot rates stood unchanged at Rs6,600/maund (37.324kg) and Rs7,073/40kg. Ex-Karachi rates also remained firm at Rs6,745/maund and Rs7,228/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. An analyst said demand in the market remained intact, which kept the prices stable, despite an increase in the arrivals. “Pakistan’s crop is going to be short against demand that will keep the prices firm,” he added. A total of 22 transactions of around 43,000 bales were recorded at a price of Rs6,100 to Rs7,000/maund. Notable deals were recorded from Ghotki, Daharki, Rohri, Khairpur, Fazilpur, Rahimyar Khan, Khanpur, Feroza, Liaquatpur, Mirpur Dewan, Rajanpur, Sadiqabad, Shujabad, Ahmedpur East, Fort Abbas and Chistian.
The spot rates stood unchanged at Rs6,600/maund (37.324kg) and Rs7,073/40kg. Ex-Karachi rates also remained firm at Rs6,745/maund and Rs7,228/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. An analyst said demand in the market remained intact, which kept the prices stable, despite an increase in the arrivals. “Pakistan’s crop is going to be short against demand that will keep the prices firm,” he added. A total of 22 transactions of around 43,000 bales were recorded at a price of Rs6,100 to Rs7,000/maund. Notable deals were recorded from Ghotki, Daharki, Rohri, Khairpur, Fazilpur, Rahimyar Khan, Khanpur, Feroza, Liaquatpur, Mirpur Dewan, Rajanpur, Sadiqabad, Shujabad, Ahmedpur East, Fort Abbas and Chistian.
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