LAHORE: The local cotton market on Wednesday remained firm and the trading volume remained satisfactory. Cotton Analyst Naseem Usman told Business Recorder that the rate of new crop of cotton in Sindh is in between Rs 17,400 to Rs 17,600 per maund. The rate of Phutti in Sindh is in between Rs 7,500 to Rs 7,900 per 40 kg.
The rate of cotton in Punjab is in between Rs 17,800 to Rs 18,000 per maund and the rate of Phutti is in between Rs 7,500 to Rs 8,600 per 40 kg. The rate of cotton in Balochistan is Rs 17,300 to Rs 17,500 per maund while the rate of Phutti is in between Rs 7,500 to Rs 7,700 per 40 kg.
For the first time in the country’s history, collective cotton production statistics have been released in the month of July instead of September with a record cotton yield expected this year in the country.
According to the data released by the Pakistan Cotton Ginners Association (PCGA), as of July 15, a total of 858,000 bales have reached ginning factories across the country. Out of them, 659,134 bales arrived in Sindh and 198,873 in Punjab’s ginning factories.
The PCGA report indicates that textile mills have purchased 691,731 bales as of July 15, 1,000 bales have been exported and 165,276 saleable bales are available with the factories. Against the past practice of releasing the first cotton statistics in September, the data has been shared on July 18 this year.
600 bales of Khair Pur were sold at Rs 17,400 per maund, 600 bales of Daour were sold at Rs 17,200 to Rs 17,300 per maund, 1400 bales of Shahdad Pur were sold at Rs 17,200 to Rs 17,400 per maund, 800 bales of Nawab Shah, 800 bales of Shah Pur Chakar were sold at Rs 17,200 to Rs 17,300 per maund, 2200 bales of Tando Adam were sold at Rs 17,000 to Rs 17,275 per maund, 800 bales of Lidhran were sold at Rs 17,775 to Rs 17,800 per maund, 1200 bales of Haroonabad were sold at Rs 17,750 to Rs 17,800 per maund, 100 bales of Ali Pur, 3200 bales of Burewala, 200 bales of Rahim Yar Khan, 200 bales of Bahwalpur, 200 bales of Peer Mahal, 600 bales of Hasil Pur, 200 bales of Ahmed Pur East, 200 bales of Farid Pur, 200 bales of Jhang were sold at Rs 17,700 per maund, 600 bales of Toba Tek Singh were sold at RS 17,550 per maund, 800 bales of Mian Channu were sold at Rs 17,700 to Rs 17,800 per maund, 400 bales of Faqeer Wali were sold at Rs 17,775 per maund, 1200 bales of Layyah were sold in between Rs 17,700 to Rs 17,7750 per maund.
The Spot Rate remained unchanged at Rs 17,300 per maund. Polyester Fiber was available at Rs 345 per kg.
Copyright Business Recorder, 2023
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