LAHORE: The local cotton market remained bearish on Monday with low trading volume.
Cotton Analyst Naseem Usman told that American President Donald Trump announced a significant increase in tariffs on nearly 100 countries, which fell like a bomb on the world’s markets, causing chaos. A massive wave of decline was witnessed in almost all markets. The local cotton market also faced its negative repercussions.
He also told that current cotton prices in Sindh range between Rs 16,000 and Rs 17,200 per maund, depending on quality, while Punjab’s rates are between Rs 16,500 and Rs 17,500 per maund.
The spot rate remained steady at Rs 16,800 per maund, and polyester fiber was traded at Rs 346 per kilogram.
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