Spot rates of cotton have increased by RS200/maund. The official spot rates released by the Karachi Cotton Association show an increase of Rs9100/maund (37.324kg) and Rs9752/40kg. Ex-Karachi rates also rose to Rs9,245/maund and Rs9,907/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. According to an analyst, the low supply and high demand resulted in increased prices along with currency devaluation.
The transactions have been as low as four which were around 1600 bales at the rate of Rs9,300 to Rs9,400/maund.