KARACHI: The Spot Rate Committee of the Karachi Cotton Association on Friday has increased the spot rate by Rs 200 per maund and closed it at Rs 14900 per maund. The Spot Rate Committee of the Karachi Cotton Association on Friday has increased the spot rate by Rs 200 per maund and closed it at Rs 14900 per maund.

The polyester fiber was available at Rs 242 per kg. 2200 bales of Khair Pur were sold at Rs 14200 to Rs 14400 per maund, 1000 bales of Ghotki were sold at Rs 15300 per maund, 800 bales of Mir Pur Mathelo were sold at Rs 15000 per maund, 600 bales of Khan Pur Mehar were sold at Rs 15000 per maund, 800 bales of Saleh Pat were sold at Rs 14500 per maund, 1200 bales of Rohri were sold at Rs 14400 to Rs 14500 per maund, 1200 bales of Rahim Yar Khan were sold at Rs 15100 to Rs 15200 per maund, 800 bales of Khan Pur Mehar, 400 bales of Sadiqabad were sold at Rs 15200 per maund, 1800 bales of Faqeer Wali were sold at Rs 14800 to Rs 15000 per maund, 2000 bales of Fort Abbas were sold at Rs 14900 to RS 15000 per maund, 2200 bales of Haroonabad were sold at Rs 14800 to Rs 15000 per maund, 2200 bales of Mian Wali were sold at Rs 14700 to Rs 15000 per maund, 400 bales of Lodhran were sold at Rs 14950 per maund, 400 bales of Layyah were sold at Rs 14850 per maund, 400 bales of Donga Bonga were sold at Rs 15000 per maund, 600 bales of Hasil Pur were sold at Rs 14800 per maund, 5000 bales of Yazman Mandi were sold at Rs 14800 to Rs 15000 per maund, 1600 bales of Bahwalpur were sold at Rs 14800 per maund, 200 bales of Marrot were sold at Rs 14800 to Rs 15000 per maund and 200 bales of Khanewal were sold at Rs 13100 per maund.

Prime Minister's Advisor on Commerce and Investment Abdul Razak Dawood said on Thursday that talks with India on transit trade are under way, whereas agreement with Afghanistan will be concluded soon. ICE cotton futures tumbled 4% on Thursday, pressured by weakness in grain and oil markets, with a stronger dollar adding to the downbeat mood. Total futures market volume fell by 2,600 to 24,546 lots. Data showed total open interest gained 668 to 285,228 contracts in the previous session.

Copyright Business Recorder, 2021