Low volume of business on cotton market
LAHORE: The local cotton market on Wednesday remained bearish and the trading volume remained low.
Cotton Analyst Naseem Usman told Business Recorder that the new cotton season has started. Approximately three ginning factories have started their operations. Out of three mills one is in Punjab and two are in Sindh.
The rate of new cotton is in between Rs 21,000 to Rs 21,500 per maund. The rate of new Phutti is in between Rs 9,000 to Rs 10.800 per 40 kg.
He further said that cotton prices of old crop in Sindh and Punjab ranged from Rs 19,500 to Rs 21,500 per maund, while Phutti prices in Punjab were between Rs 9,500 and Rs 10,000 per 40 kg.
The Spot Rate remained unchanged at Rs 19,700 per maund, and Polyester Fiber was available at Rs 367 per kg.
Copyright Business Recorder, 2024
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