Slow trading was witnessed at the Karachi Cotton Exchange on Saturday, while spot rates remained unchanged.
The spot rates stood firm at Rs6,200/maund (37.324kg) and Rs6,645/40kg. Ex-Karachi rates also remained unchanged at Rs6,335/maund and Rs6,790/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
Naseem Usman, chairman of the Karachi Cotton Brokers Association, said that an increase in the demand and slow arrivals supported the prices upwards.
Some Punjab factories have started ginning partially. “Cottonseed price remained Rs3,150 to Rs3,250/maund,” he said.
KCE recorded four transactions of around 2,000 bales of new crop at a price of Rs6,400/maund.
Of these, deals of 400 bales were recorded from Mirpurkhas, 800 bales from Tando Adam, 400 bales from Hyderabad and 200 bales trade was recorded from Sanghar.