LAHORE: The cotton spot rate announced by the Karachi Cotton Association (KCA) on Friday remained unchanged at Rs 17,935 per maund while trading remained steady and volume was good.
Cotton trading analyst, Naseem Usman, while talking to Business Recorder said that rates of cotton and Phutti from Sindh, Punjab and Balochistan also remained almost the same.
Naseem Usman said that the arrival figure of 1.4 million bales looks good enough to harvest around 10 million bales in view of the present condition of the crop. The quality however has dropped for the time being and is likely to improve in the few days if there is no further rain. The picking after rain is yet to start; therefore, arrival in ginning factories is very low.
Regarding prices, Naseem Usman said cotton from Sindh is fetching Rs 17,700 to 17,800 per maund while Phutti prices range from Rs 6800 to Rs 7400 per maund. While cotton from Punjab is fetching a price of Rs 17,900 to 18,400 per maund and Phutti is traded from Rs 7000 to Rs 8500 per maund.
Cotton arriving from Balochistan is attracting a price of Rs 17,600 to Rs 17,800 per maund and Phutti is being traded at Rs 7,000 to 7,700 per maund, Naseem added.
Meanwhile, 2200 bales from Shahdad Pur today were traded at Rs 17,700 to Rs 17,800 per maund, 3800 bales from Tando Adam were traded at Rs 17,650 to Rs 17,800 per maund, 600 bales from Hyderabad were traded at Rs 17,750 to Rs 17,800 per maund, 2600 bales from Sanghar were traded at Rs 17,500 per maund to Rs 17,800 per maund, 400 bales from Daur were traded at Rs 17,750 per maund, 600 bales of Mehrab Pur were traded at Rs 17,800 per maund, 200 bales from Saleh Pat were sold at Rs 17,850 per maund, 400 bales from Burewala fetched a price of Rs 18,000 per maund, 600 bales from Gojra and 400 bales from Toba Tek Singh were traded at a price of Rs 17,900 per maund, 1800 bales from Layyah were traded at Rs 17,900 to 18,100 per maund, 800 bales from Ali Pur at Rs 17,900 per maund, 400 bales from Sumandari also fetched the rate of Rs 17,900 per maund, 200 bales from Chichawatni were traded at Rs 18,000 per maund while 400 bales from Mian Chunno were traded at price ranging from Rs 18,200 per maund to Rs 18,300 per maund.
Likewise, 400 bales from Hasilpur were traded at Rs 18,100 per maund, 400 bales from Murid Wala at Rs 18,175 to 18,200 per maund, 200 bales from Shujaabad, 400 bales from Vehari, 200 bales from Yazman and 200 bales from Bahawalpur were traded at Rs 18, 100 per maund. 200 bales from Lodhran were traded at Rs 18, 200 per maund and 1000 bales from Haroonabad were traded at Rs 18,400 per maund.
Copyright Business Recorder, 2023
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