KARACHI: The Spot Rate Committee of the Karachi Cotton Association on Monday increased the spot rate by Rs 200 per maund and closed it at Rs 14,500 per maund. Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained bullish and trading volume remained satisfactory.

The rate of cotton in Sindh is in between Rs 14,500 to Rs 14,800 per maund and the rate of cotton in Punjab is in between Rs 14,400 to Rs 15,000 per maund.

The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6200 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 6400 per 40 Kg.

The rate of Banola in Sindh is in between Rs 1350 to Rs 1900 per maund. The rate of Banola in Punjab is in between Rs 1650 to Rs 2000 per maund. The rate of cotton in Balochistan is in between Rs 13,700 to Rs 14,500 per maund. The rate of Phutti in Balochistan is Rs 5500 to Rs 7200 per maund.

1400 bales of Ghotki, 200 bales of Khan Pur, 400 bales of Mir Pur Mathelo, 1000 bales of Sadiqabad, 1000 bales of Rahim Yar Khan, 400 bales of Bagho Bahar, 200 bales of Khan Pur were sold at Rs 14,800 per maund, 1000 bales of Saleh Pat were sold at Rs 14,000 per maund and 200 bales of Mianwali were sold at Rs 14,450 per maund. The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 200 per maund and closed it at Rs 14,500 per maund.

The rate of polyester fiber was increased by Rs 5 per kg and was available at Rs 240 per Kg.

Copyright Business Recorder, 2021