Selective buying seen on cotton market

LAHORE: The local cotton market on Thursday remained bullish and the trading volume remained satisfactory.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 16,000 to Rs 19,000 per maund. The rate of cotton in Punjab is in between Rs 16,500 to Rs 19,500 per maund. The rate of Phutti in Sindh is between Rs 6,000 to Rs 8,500 per 40 kg. The rate of Phutti in Punjab is in between Rs 6,000 to Rs 10,000 per 40 kg. The rate of Balochi cotton is Rs 20,000 per maund.

1600 bales of Tando Adam, 200 bales of Gojra were sold at Rs 16,500 per maund, 200 bales of Rajan Pur were sold at Rs 19000 per maund (condition), 200 bales of Fort Abbas were sold at Rs 19,100 per maund (condition), 400 bales of M Pur Deewan were sold at Rs 19,500 per maund (condition) and 200 bales of Khan Pur were sold at Rs 19,800 per maund (condition).

The Spot Rate remained unchanged at Rs 17,500 per maund. Polyester Fiber was available at Rs 285 per kg.

Copyright Business Recorder, 2023