At the Karachi Cotton Exchange on Tuesday trading remained slow with only two transactions recorded of 1,600 bales at a price in between Rs7,000 to Rs7,050/maund.
Rahimyar Khan’s 800 bales were sold in between Rs7,000 and Rs7,020/maund, while 800 bales of Yazman Mandi exchanged hands at Rs7,050/maund.
The spot rates remained unchanged at Rs6,800/maund (37.324kg) and Rs7,288/40kg. Ex-Karachi rates also stood firm at Rs6,935/maund and Rs7,433/40kg
after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
According to an analyst, new cotton crop would arrive this month, ahead of expectations because of heat level. One mill in Sindh has started partial ginning, while others are expected in a few days.
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