Normal trading was witnessed at cotton market on Thursday despite availability of little stocks with the ginners. While, the spot rates at the Karachi Cotton Exchange increased Rs50/maund.
The spot rates increased to Rs6,800/maund (37.324kg) and Rs7,288/40kg. Ex-Karachi rates also rose to Rs6,935/maund and Rs7,433/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
According to an analyst, normal trading was recorded despite as there are talks of new crop, ginners are willing to offload their lint, but they are not ready to sell at lower rates.
KCE recorded six transactions of around 8,000 bales from Hyderabad, Dharki, Khanewal, Shujabad, Rahimyar Khan and Faqirwali at the rate in between Rs6,450/maund to Rs7,150/maund.
Since world market prices are high, local lint is being sold at higher levels too.
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