Karachi : Trading improved at Karachi Cotton Exchange on Friday, while spot rate remained unchanged.
Spot rate stood firm at Rs7,600/maund (37.324 kg) 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.
One analyst said nearly 300,000 bales were left with the ginners in the country. Mills remained active in buying looking at the delay in sowing in Sindh due to water shortage, he said. “Sindh’s crop comes early but this time it will be delayed.”
Karachi cotton market recorded seven transactions of around 6,200 bales at a price of Rs6,400 to Rs7,800/maund. Deals were recorded from Khanpur, Rahimyar Khan, Liaquatpur, Khanewal, Kasowal, Lodhran and Chowk Munda. New York Cotton Market recorded an increase on all its futures on Thursday.
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