Karachi Cotton Exchange spot rates up Rs 50/maund

10 Mar '17

1 min read

Spot cotton prices increased by Rs 50 per maund (37.324 kg) on the Karachi Cotton Exchange on Thursday. Moderate to active trading was recorded with price range of Rs 6,450 per maund to Rs 7,150 per maund. Sellers readily entered into big deals and the day saw sale of around 8,000 bales from Dharki, Faqirwali, Hyderabad, Khanewal, Rahimyar Khan and Shujabad.

The spot rates increased to Rs 6,800 per maund and Rs 7,288 for 40 kg. Ex-Karachi rates also shot up to Rs 6,935 per maund and Rs 7,433 for 40 kg after an addition of Rs 135 and Rs 145 as upcountry expenses, respectively.

There were higher bid offerings from spinners as there is very little stock of unsold cotton left with ginners. In Sindh province, almost all cotton from field has reached ginners, and Punjab too, cotton arrival is almost complete.

Meanwhile, cotton prices in Indian and Chinese markets showed mixed to steady trend. (RKS)

ALCHEMPro News Desk – India

More Textiles News - Pakistan...