Related Keywords: buyers were not ready to purchase lint, higher rates, industry is facing financial crisis, Karachi cotton exchange, shortage of such funds created liquidity crunch, slow trading to prevail for a few months, spot rate remained steady, unpaid refunds lying with government, witnessed slow trading activity
Karachi Cotton Exchange on Wednesday witnessed slow trading activity as buyers were not ready to purchase lint at higher rates. While, the spot rate remained steady.
Spot rate was unchanged at Rs6,700/maund (37.324 kg) and Rs7,180 /40-kg. Ex-Karachi rates also stood firm at Rs6,835/maund and Rs7,325/40-kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
Karachi Cotton Exchange recorded only one transaction of 2,000 bales from Khanpur at Rs7,000/maund.
