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.
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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.
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According to an analyst, the low supply and high demand resulted in increased prices along with currency devaluation.
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The transactions have been as low as four which were around 1600 bales at the rate of Rs9,300 to Rs9,400/maund.
