Karachi : Trading activity improved at the Karachi Cotton Exchange on Tuesday, while spot rate increased Rs50/maund.
Karachi Cotton Association raised the official spot rate to Rs8,250/maund (37.324kg) and Rs8,841/40kg. Ex-Karachi rates also increased to Rs8,410/maund and Rs9,012/40kg after an addition of Rs160 and Rs171 as upcountry expenses, respectively. An analyst said the demand and supply increased in the market simultaneously, which kept the prices up.
Karachi cotton market recorded 26 transactions of around 23,000 bales at the price of Rs8,200/maund to Rs8,350/maund.
Deals were reported from Sanghar, Tando Adam, Shahdadpur, Mirpurkhas, Nawabshah, Saleh Pat, Khairpur, Khanewal, Hasilpur, Bakhar, Haroonabad, Bahawalnagar, Yazman Mandi, Hasilpur, Ahmedpur East and a few other stations.
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