LAHORE: The Spot Rate Committee of the Karachi Cotton Association on Tuesday decreased the spot rate by Rs200 per maund and closed it at Rs18,100 per maund.
The local cotton market remained bearish and the trading volume remained low because of rains in the cotton growing areas of Sindh and Punjab.
Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs17,700 to Rs18,200 per maund. The rate of Phutti in Sindh is in between Rs6,000 to Rs7,200 per 40 kg.
The rate of cotton in Punjab is in between Rs18,000 to Rs18,400 per maund. The rate of Phutti in Punjab is in between Rs6,000 to Rs8,300 per 40 kg. The rate of cotton in Balochistan is in between Rs17,500 to Rs17,800 per maund. The rate of Phutti in Balochistan is in between Rs6,000 to Rs 8,400 per 40 kg.
400 bales of Tando Adam were sold at Rs18,000 per maund, 400 bales of Maqsooda were sold at Rs17,800 per maund, 600 bales of Shahdad Pur were sold at Rs17,800 to Rs18,000 per maund, 600 bales of Sanghar were sold at Rs18,000 to Rs18,100 per maund, 200 bales of Chodagi were sold at Rs18,000 per maund, 200 bales of Rohri were sold at Rs17,900 per maund, 200 bales of Chichawatni were sold at Rs18,300 per maund and 200 bales of Haroonabad were sold at Rs18,300 per maund.
The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs2,00 per maund and closed it at Rs18,100 per maund. Polyester Fiber was available at Rs360 per Kg.
Copyright Business Recorder, 2024
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