LAHORE: The local cotton market remained bearish on Tuesday, with trading volume staying low. According to Cotton Analyst Naseem Usman, the reason behind low trading volume is the slow arrival of Phutti.
The rate of new cotton in Sindh is in between 19,000 to Rs 19,5000 per maund. The rate of cotton in Punjab is in between Rs 20,000 to Rs 20,500 per maund. The rate of new Phutti is in between Rs 9,500 to Rs 10,200 per 40 kg.
Approximately, 200 bales of Sanghar were sold at Rs 19,700 per maund.
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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