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Cotton firm
Saturday, March-11-2017

Karachi

Active trading was witnessed at the Karachi Cotton Exchange on Friday, while spot rates remained unchanged.

The spot rates remained firm at Rs6,800/maund (37.324kg) and Rs7,288/40kg. Ex-Karachi rates also stood unchanged at Rs6,935/maund and Rs7,433/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

An analyst said trade improved, as the season is going towards closure, while sowing of the new crop had started in lower Sindh.

“Sowing will start in Punjab on April 15, as early sowing was banned looking at vulnerability of earlier crops against pest attack,” he said.

KCE recorded seven transactions of around 9,000 bales from Dharanwala, Hasilpur, Bahawalnagar, Lodhran, Bahawalpur, Fort Abbas and Duniyapur at the rate of Rs6,800/maund to Rs7,050/ maund.


Courtesy The News Inernational
 

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