LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday decreased the spot rate by Rs 3,00 per maund and closed it at Rs 20,200 per maund.
The local cotton market remained bearish and the trading volume was low. Cotton Analyst Naseem Usman told Business Recorder told that the rate of new crop of cotton in Sindh is in between Rs 19,700 to Rs 19,800 per maund.
The rate of Phutti in Sindh is in between Rs 8,500 to Rs 9,200 per 40 kg. The rate of cotton in Punjab is in between Rs 20,000 to Rs 20,200 per maund and the rate of Phutti is in between Rs 9,000 to Rs 9,200 per 40 kg.
Around, 6,200 bales of Tando Adam were sold at Rs 19,800 to Rs 20,000 per maund, 400 bales of Nua Abad were sold at Rs 20,000 per maund, 2000 bales of Sanghar were sold at Rs 19,800 to Rs 20,000 per maund, 200 bales of Ahmed Pur East were sold at Rs 20,500 per maund, 600 bales of Burewala were sold at Rs 20,300 to Rs 20,500 per maund, 400 bales of Chichawatni were sold at Rs 20,200 to Rs 20,300 per maund and 200 bales of Hub Chowki were sold at Rs 19,800 per maund.
The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday decreased the spot rate by Rs 3,00 per maund and closed it at Rs 20,200 per maund. Polyester Fiber was available at Rs 355 per kg.
Copyright Business Recorder, 2023
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