Active trading was witnessed at the Karachi Cotton Exchange on Wednesday after cotton arrivals report was released by the Pakistan Cotton Ginners Assocication (PCGA) on Tuesday and cotton remaining stable.
Yazman Mandi’s 400 bales were sold at Rs6,800/maund, 400 bales of Bahawalnagar at Rs6,850/maund, 2,400 bales of Rahimyar Khan at Rs6,800 to Rs6,925/maund and another lot of 2,000 bales of Rahimyar Khan exchanged hands at Rs7,000/maund.
The spot rates remained unchanged at Rs6,750/maund (37.324kg) and Rs7,234/40kg. Ex-Karachi rates also stood firm at Rs6,885/maund and Rs7,379/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
KCE recorded four transactions of 5,200 bales in between Rs6,800/maund and Rs7,000/maund.