By Anu Verma
Cotton price hit record high of Rs6,950 per maund due to shortage of the commodity and sluggish trading on the cotton market today.
Dealers at the Karachi Cotton Exchange (KCA) said 400 bales of Haroonabad were sold at the historic high of Rs6,925/Rs6,950 per maund on credit, and 4,700 bales of Rahim Yar Khan changed hands at Rs6,800. Spot rates of the Karachi Cotton Exchange stayed unchanged at Rs6,700 a maund and Rs7,180 per 40kg.