Karachi: Active trading was recorded at the Karachi Cotton Exchange on Tuesday, while spot rates increased Rs100/maund.
The spot rates increased to Rs6,700/maund (37.324kg) and Rs7,180/40kg. Ex-Karachi rates also rose to Rs6,845/maund and Rs7,335/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.
An analyst said market prices remained higher because of the devaluation of the rupee. “Indian import will also be difficult, so people are running behind the local lots,” he added. A total of 25 transactions were recorded of around 37,000 bales at a price of Rs6,100 to Rs7,100/maund. Notable deals were recorded from Khairpur, Saleh Pat, Rohri, Daharki, Ghotki, Khairpur, Khanpur Maher, Rahimyar Khan, Sadiqabad, Kot Sabzal, Ahmedpur East, D G Khan, Bahawalpur, Faqirwali, Haroonabad and Mianwali.
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