Karachi: Slow trading was recorded at the Karachi Cotton Exchange on Friday, while spot rates remained unchanged.
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.
Naseem Usman, chairman of the Karachi Cotton Brokers Association (KCBA), said that the issuance of permit for cotton imports from India has started and deals for the import of 300,000 bales were finalised. Lint arrivals from India will start from January to March, he added.
A total of nine transactions were recorded of around 7,000 bales at a price of Rs6,400 to Rs7,000/maund. Deals were recorded from Saleh Pat, Kot Sabzal, Rahimyar Khan, Sadiqabad, Khanpur, Alipur, Shujaabad, Liaquatpur and Haroonabad.
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