Cotton gains

Karachi : Improved trading continued at the Karachi Cotton Exchange on Thursday, while spot rates increased Rs100/maund.

The spot rates increased to Rs8,400/maund (37.324kg) and Rs9,002/40kg. Ex-Karachi rates also rose to Rs8,545/maund and Rs9,157/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said trade activity has improved in the market with the start of more ginning factories in the country. “It will further improve,” he added.

Karachi cotton market recorded four transactions of around 3,500 bales at a price of Rs8,600/maund to Rs8,700/maund. Deals were recorded from Shahdadpur, Tando Adam, Sanghar and Vehari.

Pakistan has recorded exports registrations for 209,545 bales from August 1, 2017 till June 23, 2018. A total of 132,153 bales were shipped during this period.