LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) announced a significant increase in cotton prices, raising the spot rate by Rs 200 per maund. As a result, the spot rate closed at Rs 19,700 per maund.
Cotton Analyst Naseem Usman, speaking to Business Recorder, noted that despite the stability in the market, trading volume remained relatively low. He highlighted the prevailing rates of cotton in different regions, with prices in Sindh ranging from Rs 18,500 to Rs 20,500 per maund and in Punjab from Rs 18,500 to Rs 20,200 per maund.
Notable fluctuations were also observed in Phutti prices, varying from Rs 8,000 to Rs 9,200 per 40 kg, and cotton prices from Balochistan, documented at Rs 17,500 to Rs 18,000 per maund.
The day’s trading activities included the sale of various bales across different regions. 800 bales of Karondi were sold at Rs 19,500 per maund, 600 bales of Ghazi Ghat at Rs 21,500 per maund, 200 bales of Dera Ghazi Khan at Rs 21,000 per maund, 200 bales of Chichawatni at Rs 20,300 per maund, 1600 bales of Rahim Yar Khan at Rs 19,700 to Rs 20,000 per maund, 200 bales of Khan Pur at Rs 20,000 per maund, 363 bales of Mianwali at Rs 19,700 per maund, and 400 bales of Fort Abbas at Rs 18,900 per maund.
In addition to the increase in cotton prices, the Spot Rate Committee also noted the availability of polyester fiber at Rs 362 per kg.
Copyright Business Recorder, 2024
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