The spot rates increased to Rs 6,800 per maund and Rs 7,288 for 40 kg. Ex-Karachi rates also shot up to Rs 6,935 per maund and Rs 7,433 for 40 kg after an addition of Rs 135 and Rs 145 as upcountry expenses, respectively.
There were higher bid offerings from spinners as there is very little stock of unsold cotton left with ginners. In Sindh province, almost all cotton from field has reached ginners, and Punjab too, cotton arrival is almost complete.
Meanwhile, cotton prices in Indian and Chinese markets showed mixed to steady trend. (RKS)
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