At the Karachi Cotton Exchange, normal trading activity was witnessed on Wednesday, while spot rates increased Rs50/maund to Rs6,200/maund (37.324kg) and Rs6,645/40kg. Ex-Karachi rates also increased to Rs6,335/maund and Rs6,790/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
KCE recorded seven transactions changed hands of around 5,000 bales from Sindh at a price of Rs6,350/maund to Rs6,400/maund. Deals were noted from Hyderabad, Tando Adam, Kotri, Sanghar, Shahdadpur, Mirpurkhas and Sinjoro.
According to analyst, ginners remained successful in keeping the prices stable in the oversold market. Around 50 ginning factories have commenced operations, while buyers are still cautious in purchasing
After declining trend of a few weeks, market prices are going upward before the arrival of the new crop.
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