Cotton unchanged

Karachi : Normal trading activity was witnessed at the Karachi Cotton Exchange on Wednesday, while spot rates remained unchanged.

The spot rates stood firm at Rs7,600/maund (37.324kg) and Rs8,145/40kg. Ex-Karachi rates also remained unchanged at Rs7,745/maund and Rs8,300/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

Karachi cotton market recorded five transactions of around 3,500 bales at a price of Rs6,650 to Rs8,125. Of these, 1,600 bales of Ghotki were sold, 1,690 bales of Rahimyar Khan, 400 bales of Sadiqabad, 200 bales of Yazman and 400 bales of Khanewal.

Pakistan has recorded cotton arrivals of 11.57 million bales till April 15, 2018, up 7.9 percent against the last year’s arrival of 10.7 million bales. Total unsold stocks remain at 369,869 bales.