Cotton trading remained slow at the Karachi Cotton Exchange on Wednesday recording only one transaction of 2,000 bales from Shujabad at the rate of Rs6,900/maund, while spot rates remained unchanged.
The spot rates stood firm at Rs6,750/maund (37.324kg) and Rs7,234/40kg. Ex-Karachi rates also remained unchanged at Rs6,885/maund and Rs7,379/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
Pakistan has made registrations of 135,879 bales from 2015/16 and 2016/17 crops during the period August 1, 2016 till May 7, 2017. During this period a total of 115,116 bales were shipped.
According to an analyst, slow trading is likely to continue, as majority of mills had closed their operations because of the off season.
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