Cotton up

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KARACHI: Ginners held their positions in the cotton market, which resulted in increase in the spot rate by Rs100 per maund on Tuesday, a dealer said.


The spot rate increased to Rs5,400 per maund (37.324kg) and Rs5,787 per 40kg, while ex-Karachi rate reached Rs5,530 per maund and Rs5,917 per 40kg after addition of Rs130 as upcountry expenses, he said.


According to cotton arrivals report of Pakistan Cotton Ginners Association, the total arrivals of cotton in factories till April 1 stood at 14.6 million bales. Shahdadpur’s 152 bales were sold at Rs4,300 per maund, 300 bales of Hala at Rs4,450, 200 bales of Ghotki at Rs5,800, 400 bales of Burewala at Rs4,800, 200 bales of Lodhran at Rs5,150, 600 bales of Pakpattan and 200 bales of Bahawalpur at Rs5,200, 200 bales of Basti Malook at Rs5,400 and 200 bales of Uch Sharif were sold at Rs5,500 per maund.


Fazilpur’s 400 bales and 700 bales of Rahim Yar Khan were each sold at Rs5,500, 200 bales of Jalalpur and 200 bales of Sadiqabad at Rs5,550, 200 bales of Pakpattan, 106 bales of Fort Abbas and 400 bales of Kotla Moosa were each sold at Rs5,600, 400 bales of Jahania at Rs5,850 and 200 bales of Vehari were sold at Rs5,900 per maund.



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