Karachi : Dull trading continued at the Karachi Cotton Exchange on Friday, while spot rates remained unchanged.
The spot rates stood firm at Rs7,400/maund (37.324kg) and Rs7,931/40kg. Ex-Karachi rates also remained unchanged at Rs7,545/maund and Rs8,086/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.
An analyst said trade activity in the market remained low, as season had almost ended, while the market was looking towards the new crop, which is likely to be delayed due to water shortage.
The government had increased the target, but water shortage remained the major issue in the country, so a decrease in the production is expected, he added.
Karachi cotton market recorded only one transaction of 700 bales from Fort Abbas at the price of Rs6,400/maund.
The image shows a poster of Syngenta Pakistan's 'CropWise Grower' mobile application. — Syngenta...
The undated image shows the name of the Bank of Punjab written on one its branches. — APP FileKARACHI: The Bank of...
ABHI, a financial technology company, partners with Soorty Enterprises. — Facebook/ProPakistaniKARACHI: ABHI, a...
This representational image shows Gold bars. — AFP/FileKARACHI: Gold prices in the local market dropped by Rs1,600...
A currency exchange dealer counting $100 bills. — AFP/FileAs any old-school currencies trader will tell you: buy...
A Pakistan International Airline aircraft takes off in this undated picture. — Radio Pakistan/FileLAHORE: We have...