Karachi : Dull trading was witnessed at the Karachi Cotton Exchange on Friday, while spot rates remained firm.
The spot rates stood firm at Rs7,400/maund (37.324kg) and Rs7,931/40kg.
Ex-Karachi rates also remained unchanged at Rs7,545/maund and Rs8,086/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.
An analyst said cotton shortage was predicted in the world against demand, which resulted in higher prices.
Karachi cotton market recorded domestic transactions of around 2,000 bales in the range of Rs6,100 and Rs7,700/maund.
Of these, 1,116 bales of Khanpur were sold at Rs7,300 to Rs7,700/maund, 400 bales of Lodhran at Rs6,900/maund, 413 bales of Rahimyar Khan at Rs7,200/maund and 100 bales of Chistian exchanged hands at Rs6,100/maund.
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