Cotton unchanged

Karachi: Slow trading recorded at the Karachi Cotton Exchange on Monday, while spot rates remained unchanged.

The spot rates stood firm at Rs7,500/maund (37.324kg) and Rs8,038/40kg. Ex-Karachi rates also remained unchanged at Rs8,038/maund and Rs8,193/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. Naseem Usman, chairman of the Karachi Cotton Brokers Association, said that very little quantity of quality cotton is left with the ginners, while Pakistan Cotton Standard Institute (PCSI) is making efforts to increase the quality of the lint. “Seminars for improving quality were held in Sukkur and Hyderabad,” he added.

Karachi cotton market recorded six transactions of around 3,000 bales at a price of Rs6,600 to Rs8,200/maund. Of these, 1,000 bales each of Ghotki and Liaquatpur were sold at Rs8,200/maund and Rs7,725/maund, respectively.