Related Keywords: cotton prices, maunds, spot rates of cotton, textile expenses
The spot rates of cotton have reduced by Rs100/maund as recorded at the Karachi Cotton Exchange. The spot rates decreased to Rs6,450/maund (37.324kg) and Rs6,912/40kg. Ex-Karachi rates also fell to Rs6,595/maund and Rs7,067/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.
An analyst said the spot rates declined because of an increase in the arrivals. He added that demand remained still high in the market, but any arrival in bulk or decline in quality will decrease the prices.
