LAHORE: The local cotton market on Saturday remained sluggish and the trading volume remained low.
Cotton Analyst Naseem Usman told Business Recorder that under the influence of international cotton market bearish trend prevailing in the local cotton market. The rate of Future trading of New York Cotton reached at the lowest level of 75 American cent per pound.
He further told that in terms of pricing, cotton rates in both Sindh and Punjab ranged from Rs 19,500 to Rs 21,500 per maund, while phutti prices in Punjab were observed between Rs 9,500 and Rs 10,000 per 40 kg.
The Spot Rate remained unchanged at Rs 19,700 per maund. Polyester Fiber was available at Rs 367 per kg.
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