Lacklustre trading on cotton market ahead of Eid holidays

LAHORE: The local cotton market on Monday remained bullish and the trading volume remained low.

Cotton Analyst Naseem Usman told Business Recorder that the reason behind low trading volume is non availability of transport. It is expected to increase after Eid ul Fitr holidays.

He also told that the rate of cotton in Sindh is in between Rs 17,000 to Rs 20,000 per maund. The rate of cotton in Punjab is in between Rs 18,000 to Rs 21,000 per maund. The rate of Phutti in Sindh is between Rs 5,500 to Rs 8,300 per 40 kg. The rate of Phutti in Punjab is in between Rs 6,000 to Rs 8,500 per 40 kg.

5600 bales of Rahim Yar Khan were sold at Rs 21,000 per maund (condition) and 323 bales of Marrot were sold at Rs 19,300 per maund.

The Spot Rate remained unchanged at Rs 19,700 per maund. The rate of Polyester Fiber was increased by Rs 2 and was available at Rs 375 per kg.

Copyright Business Recorder, 2023