Cotton prices remain unchanged on Karachi Exchange

16 Mar '17

1 min read

Spot rates at the Karachi Cotton Exchange remained unchanged on Wednesday even as trading improved. Falling cotton stocks with ginners and dearth of good-quality cotton hampered activity, however, some deals were carried forward on higher prices by some spinners who were in urgent need to fulfill their demands. The outlook largely remained positive.

Spot rates were unchanged at Rs 6,800 per maund (37.324 kg) and Rs 7,288 per 40 kg. Ex-karachi rates also remained firm at Rs 6,935 per maund and Rs 7,433 per 40 kg after adding Rs 135 and Rs 145 as upcountry expenses, respectively.

Five transactions of 3,000 bales at rates between Rs 6,825 and Rs 7,000 per maund were recorded by Karachi Cotton Exchange from Shujaabad, Haroonabad, Faqirwali and Muhammadpur Diwan.

Additionally, farmers have started sowing cotton seeds for the new season in lower Sindh. (KD)

ALCHEMPro News Desk – India

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