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March 9, 2018

Cotton unchanged

Business

March 9, 2018

Karachi : Trading improved at the Karachi Cotton Exchange on Thursday, while spot rates increased Rs100/maund.

The spot rates rose to Rs7,200/maund (37.324kg) and Rs7,716/40kg. Ex-Karachi rates also increased to Rs7,345/maund and Rs7,871/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said prices are likely to remain firm in the coming days, as buyers have again entered in the market and prices are also increasing in the international market.

Karachi cotton market recorded seven transactions of around 7,500 bales at a price of Rs6,500 to Rs7,800/maund. Of these, 1,200 bales were sold of Daharki, 800 bales of Sakrand, 600 bales of Saeedabad, 200 bales of Hala, 603 bales of Shahar-e-Sultan, 3,400 bales of Rahimyar Khan and 400 bales of Khanewal.

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