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July 14, 2018
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Cotton unchanged

Business

July 14, 2018

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Karachi : Normal trading activity was recorded at the Karachi Cotton Exchange on Friday, while spot rates remained unchanged.

The spot rates stood firm at Rs8,400/maund (37.324kg) and Rs9,002/4-kg. Ex-Karachi rates also remained unchanged Rs8,545/maund and Rs9,157/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said international markets, including US, China and India were high. “Pakistani market may also reach record Rs9,000/maund in a few days,” he added.

Karachi cotton market recorded six transactions of around 5,000 bales at a price of Rs8,600/maund to Rs8,700/maund. Of these, 1,200 bales were sold from Shahdadpur, 1,600 bales of Tando Adam, 800 bales of Sanghar and 400 bales each of Hyderabad and Kotri, while 200 bales of Chichawatni exchanged hands.

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