Our Correspondent | March 15, 2018
Karachi : Cotton trade activity improved on Wednesday at Karachi Cotton Exchange while spot rate increased Rs200 a maund. Spot rate rose to Rs7,600/maund (37.324 kg) and Rs8,145/40kg. Ex-Karachi rates also increased to Rs7,745 / maund and Rs8,300/40-kg after addition of Rs145 and Rs155 as upcountry expenses, respectively. One analyst said cotton trade was recorded at higher prices in the market, which resulted in a huge increase in the spot rate. “An increase of Rs200 is a huge in one day,” he said.
Karachi cotton market saw four transactions of 4,000 bales at a price of Rs6,800 to Rs7,900/maund. Deals included 400 bales of Ghotki at Rs7,900/maund, 600 bales of Rahimyar Khan at Rs7,800, 1,000 bales of Sadiqabad at Rs7,800 and 2,000 bales of Kabirwala were sold at Rs6,800/maund.