KARACHI: The cotton spot rate remained at Rs 5,650 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level.
According to the Karachi Cotton Association (KCA), traders offered all grades of lint on bargaining rates at around Rs 4,975 per maund to Rs 5,275 per maund in order to capitalise maximum returns on their proceeds.
Spinners in Sindh and Punjab stations made deals for fine grades on competitive price at around Rs 5,525 per maund to Rs 5,600 per maund while general buyers made deals for all grades in Punjab and Sindh stations at around Rs 4,975 per maund to Rs 5,150 per maund. Due to grade issue in parts of Sindh and Punjab stations buyers made forward deals for all grades of lint at around Rs 4,950 per maund to Rs 5,175 per maund.
More than 200 bales changed hands with more than 65 percent of Punjab’s share in trading.
