LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Saturday decreased the spot rate by Rs 800 per maund and closed it at Rs 19,000 per maund.
The local cotton market remained bearish and the trading volume remained low.
Cotton Analyst Naseem Usman said 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 20,000 per maund. The rate of Phutti in Sindh is between Rs 7,000 to Rs 9,000 per 40 kg. The rate of Phutti in Punjab is in between Rs 8,000 to Rs 9,500 per 40 kg. The rate of cotton in Balochistan is in between Rs 18,000 to Rs 22,000 per maund.
600 bales of Shahdad Pur were sold at Rs 17,000 to Rs 18,000 per maund, 400 bales of Saleh Pat, 400 bales of Khairpur, 600 bales of Mehrab Pur were sold at Rs 18,500 per maund, 1600 bales of Layyah were sold at Rs 18,000 to Rs 18,400 per maund, 400 bales of Tunsa Shareef were sold at Rs 17,800 per maund and 100 bales of Burewala were sold at Rs 17,900 per maund.
The Spot Rate Committee of the Karachi Cotton Association on Saturday decreased the spot rate by Rs 800 per maund and closed it at Rs 19,000 per maund. Polyester Fiber was available at Rs 308 per kg.
Copyright Business Recorder, 2022
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