KARACHI: The cotton official spot rate has increased by Rs50 per maund (37.324 kilograms) to Rs5,250 per maund.
The increase in the price of commodity was mainly due to low supplies in local markets. The KCA has increased its rate by a total of Rs400 per maund during the week, while prices at the open markets stayed at the current season’s (June-September) high of Rs5,500 per maund. Traders bought 19,500 bales (155 kilograms each) at Rs4,800 to Rs5,500 per maund against 16,300 bales at Rs5,100 to Rs5,500 per maund a day ago.
