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Cotton price continued to remain unchanged

YarnsandFibers News Bureau 2017-12-29 13:00:00 – Karachi

At the Karachi Cotton Exchange on Thursday, slow trading activity was witnessed also the spot rates remained unchanged at Rs7,000/maund (37.324kg) and Rs7,502/40kg.

Ex-Karachi rates also stood firm at Rs7,145/maund and Rs7,657/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

The cotton market recorded only 10 transactions of around 1,500 bales at a price of Rs6,300 to Rs7,500/maund. Notable transactions were recorded from Daharki, Ghotki, DG Khan, Jahanian, Faqirwali, Haroonabad and Bahawalnagar.

According to analyst, cotton prices remained firm, while some deals were made at Rs7,700/maund highest in the last six years after market closing time.

He added that demand of quality lint is likely to continue, as imports from India were certain after price increase over there.

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