After four-day stability, cotton prices moved up by Rs25 to Rs2425 per maund, Karachi Cotton Association sources revealed today.
Today, around 8400 cotton bales transactions were recorded in markets at various stations. Kot Lalu recorded transactions of only 400 bales at Rs2400, Rahim Yar Khan witnessed 1000 bales changing hands at Rs2475, Khanpur and Upper Sindh registered sales of 2000 bales each at Rs2475 and Rs2450 respectively and SDK registered transactions of 3000 bales at Rs2435 per maund.
On April 6, 2005 Cotlook Indices recorded A Index at 58.50 and B Index at 56.65.
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Other transactions at KCA Market sources reveal that there are over 1 million bales of unsold cotton stocks, but of average or inferior quality.
This could possibly be the reason for prices here lying low.
However, demand for imported quality cotton is steadily rising to satisfy the requirement of textile mills and spinners, they added.
Karachi Cotton Association
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