Cotton unchanged

Karachi : Active trading continued at the Karachi Cotton Exchange on Wednesday, while spot rates remained unchanged.

Karachi Cotton Association kept the official spot rates firm at Rs8,050/maund (37.324kg) and Rs8,627/40kg. Ex-Karachi rates also stood unchanged at Rs8,210/maund and Rs8,798/40kg after an addition of Rs160 and Rs171 as upcountry expenses, respectively.

An analyst said the market remained stable, as demand and supply increased simultaneously in the market.

Karachi cotton market recorded 20 transactions of around 16,000 bales at the price of Rs8,100/maund to Rs8,300/maund. Deals were reported from Mirpurkhas, Sanghar, Tando Adam, Shahdadpur, Khipro, Nawabshah, Hyderabad, Daur, Moro, Bandhi, Ahmedpur East, Khanewal, Burewala, Chichawatni, and Vehari.