LAHORE: The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 1,000 per maund and closed it at Rs 16,500 per maund.

The local cotton market on remained bullish and the trading volume remained low.

Cotton Analyst Naseem Usman told Business Recorder that the reason behind bullish trend is increase in the rate of dollar. He also told that the rate of cotton in Sindh is in between Rs 15,800 to Rs 16,200 per maund. The rate of cotton in Punjab is in between Rs 17,500 to Rs 18,500 per maund. The rate of Phutti in Sindh is in between Rs 5000 to Rs 6,500 per 40 Kg. The rate of Phutti in Punjab is in between Rs 65,00 to Rs 7,500 per 40 Kg.

1800 bales of Tando Adam were sold at Rs 14,500 to Rs 15,300 per maund, 1400 bales of Shahdad Pur were sold at Rs 14,500 to Rs 15,000 per maund, 800 bales of Sanghar were sold at Rs 14,500 to Rs 15,500 per maund, 400 bales of Hyderabad were sold at Rs 15,000 per maund, 800 bales of Shah Pur Chakkar were sold at Rs 15,000 to Rs 15,500 per maund, 400 bales of Khadro were sold at Rs 15,500 per maund, 400 bales of Maqsooda Rind were sold at Rs 14,800 per maund, 800 bales of Khanewal were sold at Rs 17,500 per maund, 600 bales of Layyah were sold at Rs 17,500 to Rs 17,600 per maund, 600 bales of Lodhran were sold at Rs 17,500 per maund, 400 bales of Mureed Wala were sold at Rs 17,500 per maund, 800 bales of Burewala were sold at Rs 16,950 to Rs 17,500 per maund, 200 bales of Haroonabad were sold at Rs 17,300 to Rs 17,500 per maund, 800 bales of Chichawatni were sold at Rs 17,000 to Rs 17,500 per maund, 600 bales of Gojra were sold at Rs 16,950 to Rs 17,000 per maund, 600 bales of Vehari were sold at Rs 17,500 per maund, 800 bales of Mian Channu were sold at Rs 17,500 to Rs 17,600 per maund, 400 bales of Mongi Bangla were sold at Rs 17, 500 per maund, 400 bales of Tunsa Shareef were sold at Rs 16,950 to Rs 17,500 per maund, 200 bales of Bahwalpur were sold at Rs 17,300 per maund and 200 bales of Samundri were sold at Rs 17,200 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Monday increased the spot rate by Rs 1000 per maund and closed it at Rs 16,500 per maund. The polyester fiber was available at Rs 315 per Kg.

Copyright Business Recorder, 2022