LAHORE: The local cotton market on Thursday remained bullish and the trading volume remained satisfactory.
Cotton Analyst Naseem Usman told Business Recorder that the reason behind the bullish trend is that ginners were oversold and Phutti is not arriving.
He also said that the rate of new crop of cotton in Sindh and Punjab is Rs 20,300 to Rs 20,500 per maund. The rate of Phutti in Sindh and Punjab is in between Rs 8,800 to Rs 9,700 per maund.
The Spot Rate remained unchanged at Rs 20,000 per maund. Polyester Fiber was available at Rs 355 per kg.
Copyright Business Recorder, 2023
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