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Cotton unchanged

Business

May 26, 2018

Karachi : Karachi Cotton Exchange again recorded only one trade transaction on Friday, while spot rates remained firm.

The spot rates stood unchanged at Rs7,500/maund (37.324kg) and Rs8,038/40kg. Ex-Karachi rates also remained stable at Rs7,645/maund and Rs8,193/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said low activity continued at the market, while price further reduced as very little quantity of quality lint is available with the ginners.

“Spot rates are also likely to decrease, as low quality lint was traded in the market,” he added.

Big mills had fulfilled their demand through import of cotton, he said. Karachi cotton market recorded only one transaction of 800 bales from Mian Channu at the rate of Rs6,000/maund.

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