LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday increased the spot rate by Rs 1,000 per maund and closed it at Rs 17,500 per maund.

The local cotton market remained bullish and the trading volume was very good.

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 17,000 to Rs 17,500 per maund.

The rate of cotton in Punjab is in between Rs 19,000 to Rs 20,000 per maund. The rate of Phutti in Sindh is in between Rs 6,000 to Rs 7,400 per 40 Kg. The rate of Phutti in Punjab is in between Rs 65,00 to Rs 8,000 per 40 Kg.

2600 bales of Tando Adam were sold at Rs 15,500 to Rs 16,500 per maund, 2200 bales of Shahdad Pur were sold at Rs 15500 to Rs 16,500 per maund, 2000 bales of Sanghar were sold at Rs 15,000 to Rs 16,000 per maund, 800 bales of Hyderabad were sold at Rs 15,800 to Rs 16,000 per maund, 200 bales of Khadro were sold at Rs 16,000 per maund, 200 bales of Mir Pur Khas were sold at Rs 15,700 per maund, 1000 bales of Khanewal were sold at Rs 18,200 to Rs 19,000 per maund, 1600 bales of Layyah were sold at Rs 18,200 to Rs 19,000 per maund, 600 bales of Lodhran were sold at Rs 18,500 per maund, 1000 bales of Burewala, 1800 bales of Chichawatni were sold at Rs 18,000 to Rs 18,500 per maund, 1400 bales of Haroonabad were sold at Rs 18,000 to Rs 18,500 per maund, 400 bales of Samundri were sold at Rs 18,000 per maund, 600 bales of Sahiwal were sold at Rs 18,200 to Rs 18,500 per maund, 1000 bales of Vehari were sold at Rs 18,000 to Rs 18,500 per maund, 400 bales of Mureed Wala were sold at Rs 18,500 per maund, 800 bales of Mian Channu were sold at Rs 18,000 to Rs 18,500 per maund and 400 bales of Shujabad were sold at Rs 18,300 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Thursday increased the spot rate by Rs 1,000 per maund and closed it at Rs 17,500 per maund. The polyester fiber was available at Rs 315 per Kg.

Copyright Business Recorder, 2022