Karachi : Trading activity further increased at the Karachi Cotton Exchange on Thursday, while spot rates decreased Rs200/maund.
Karachi Cotton Association decreased the official spot rates to Rs8,100/maund (37.324kg) and Rs8,681/40kg. Ex-Karachi rates also fell to Rs8,260/maund and Rs8,852/40kg with Rs160 and Rs171 as upcountry expenses, respectively. Karachi cotton market recorded 15 transactions of around 12,000 bales at the price of Rs8,100 to Rs8,300/maund.
The deals were reported from Tando Adam, Shahdadpur, Mirpurkhas, Sanghar, Hyderabad, Kotri, Nawabshah, Masoodo Rind, Vehari, Khanewal, Burewala, Pir Mehal, Samandri, Haroonabad and Chichawatni. New York cotton market recorded decrease on its futures. October futures dropped 2.33 cents to 81.08 cents/pound and December futures decreased 2.30 cents to 80.74 cents/pound.
Source: The Daily Times, Pakistan Friday, 17 August 2018