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

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

Cotton Analyst Naseem Usman told that the reason behind low trading volume is rains in the cotton belt of the country. He also told that the rate of cotton in Sindh is in between Rs 17,000 to Rs 18,000 per maund.

The rate of cotton in Punjab is in between Rs 18,500 to Rs 19,000 per maund. The rate of Phutti in Sindh is in between Rs 6,000 to Rs 7,300 per 40 Kg. The rate of Phutti in Punjab is in between Rs 6,500 to Rs 10,000 per 40 Kg. The rate of cotton in Balochistan is in between Rs 16,500 to Rs 17,500 per maund.

400 bales of Shahdad Pur, 400 bales of Tando Adam were sold at Rs 17,000 per maund, 200 bales of Noabad were sold at Rs 17,500 per maund (condition), 400 bales of Nawab Shah were sold at Rs 17,300 per maund, 400 bales of Golarchi were sold at Rs 16,500 per maund, 200 bales of Khanewal were sold at Rs 18,500 per maund, 200 bales of Dera Ghazi Khan were sold at Rs 18,500 per maund and 1800 bales of Vehari were sold at Rs 17,600 to Rs 18,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Thursday increased the spot rate by Rs 500 per maund and closed it at Rs 17,500 per maund. The Polyester Fiber was available at Rs 325 per kg.

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