Cotton unchanged

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

Karachi Cotton Association kept the official spot rates firm at Rs8,250/maund (37.324kg) and Rs8,841/40kg. Ex-Karachi rates also remained unchanged at Rs8,410/maund and Rs9,012/40kg after an addition of Rs160 and Rs171 as upcountry expenses, respectively. Naseem Usman, chairman of the Karachi Cotton Brokers Association, said that there was a decline in yarn prices, which suggests that prices of lint may decline in the coming days. Karachi cotton market recorded 19 transactions of around 24,000 bales at the price of Rs8,200/maund to Rs8,450/maund. Deals were reported from Sanghar, Tando Adam, Shahdadpur, Nawabshah, Rohri, Khairpur, Rajanpur, Khanewal, Kabirwala, Mian Channu, Chichawatni, Vehari, Haroonabad, Taunsa Sharif, and Burewala.