Cotton declines
Karachi : Only one transaction was recorded at the Karachi Cotton Exchange on Thursday, while spot rates decreased Rs100/maund.
The spot rates fell to Rs7,500/maund (37.324kg) and Rs8,038/40kg. Ex-Karachi rates also decreased to Rs7,645/maund and Rs8,193/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.
Naseem Usman, chairman of the Karachi Cotton Brokers Association, said that international market is under pressure and China is moving from US to India to purchase 0.5 million bales.
New York market decreased to this level from above 90 cents/pound this season. “The market will again go up in the coming days, as demand is higher than production,” he added.
Karachi cotton market recorded only one transaction of 400 bales from AP East at the rate of Rs7,250/maund.
-
Leonardo DiCaprio's Co-star Reflects On His Viral Moment At Golden Globes -
SpaceX Pivots From Mars Plans To Prioritize 2027 Moon Landing -
J. Cole Brings Back Old-school CD Sales For 'The Fall-Off' Release -
King Charles Still Cares About Meghan Markle -
GTA 6 Built By Hand, Street By Street, Rockstar Confirms Ahead Of Launch -
Funeral Home Owner Sentenced To 40 Years For Selling Corpses, Faking Ashes -
Why Is Thor Portrayed Differently In Marvel Movies? -
Dutch Seismologist Hints At 'surprise’ Quake In Coming Days -
Australia’s Liberal-National Coalition Reunites After Brief Split Over Hate Laws -
DC Director Gives Hopeful Message As Questions Raised Over 'Blue Beetle's Future -
King Charles New Plans For Andrew In Norfolk Exposed -
What You Need To Know About Ischemic Stroke -
Shocking Reason Behind Type 2 Diabetes Revealed By Scientists -
SpaceX Cleared For NASA Crew-12 Launch After Falcon 9 Review -
Meghan Markle Gives Old Hollywood Vibes In New Photos At Glitzy Event -
Simple 'finger Test' Unveils Lung Cancer Diagnosis