Cotton stable

Karachi : Active trading was recorded at the Karachi Cotton Exchange on Tuesday, 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. An analyst said since new crop is expected late because of water shortage, buyers hurried up to build up their stocks.

Karachi cotton market recorded 13 transactions of around 6,500 bales at a price of Rs6,300 to Rs7,800/maund. Deals were recorded from Pano Aqil, Sadiqabad, Rahimyar Khan, Khanpur, Shujaabad, Liaquatpur, Bahawalpur, Multan, Jalalpur, Vehari, Fort Abbas, Haroonabad and Bahawalnagar. Pakistan has recorded export registrations of 202,439 bales from August 1, 2017 till April 7, 2018.