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June 13, 2018

Cotton unchanged

Business

June 13, 2018

Karachi : Karachi Cotton Exchange recorded only one transaction on Tuesday, while spot rates remained unchanged.

The spot rates stood firm at Rs7,600/maund (37.324kg) and Rs8,145/40kg. Ex-Karachi rates also remained unchanged at Rs7,745/maund and Rs8,300/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said trade activity remained low because the cotton season was over and buyers are waiting for the new crop in the market.

“Eid holidays will start from this week, while there activity is likely to increase after Eid, as more mills will start their operations,” he said.

“Harvesting of new crop will also increase after the holidays.”

Karachi cotton market recorded only one transaction of 200 bales from Khanewal at Rs6,000/maund.

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