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Cotton improves

Business

May 9, 2018

Karachi : Dull trading was witnessed at the Karachi Cotton Exchange on Tuesday, while spot rates increased Rs100/maund.

The spot rates rose to Rs7,600/maund (37.324kg) and Rs8,145/40kg. Ex-Karachi rates also increased to Rs7,745/maund

and Rs8,300/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said trade volume in the market has decreased, as quality lint has almost ended with the stocks of total cotton reaching around 250,000 bales.

“However, the demand for the quality lots remains intact,” he added.

Karachi cotton market recorded two transactions of around 600 bales at a price in the range of Rs6,975 to Rs8,000/maund. Of these, 400 bales of Rahimyar Khan were sold at Rs8,000/maund and 200 bales of Ahmedpur East exchanged hands at Rs6,975/maund.