LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Saturday decreased the spot rate by Rs 1000 per maund and closed it at Rs 20,000 per maund.

Cotton Analyst Naseem Usman told that the local cotton market remained bearish and the trading volume remained low.

He also told that according to report of Pakistan Cotton Ginners Association 15 lac thirty nine thousand bales were produced till August 31 which is two lac fifty one thousand bales less as compared to last year during this period.

He also told that the rate of cotton in Sindh is in between Rs 17,000 to Rs 20,000 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 5,000 to Rs 8,000 per 40 kg. The rate of Phutti in Punjab is in between Rs 7,000 to Rs 9,000 per 40 kg. The rate of cotton in Balochistan is in between Rs 11,000 to Rs 18,000 per maund.

400 bales of Saleh Pat were sold at Rs 21,000 per maund, 200 bales of Tando Adam were sold at Rs 18,00 per maund, 200 bales of Sanghar were sold at Rs 17,500 per maund, 600 bales of Tounsa Sharif were sold at Rs 19,500 per maund, 400 bales of Shadanlund, 200 bales of Layyah were sold at Rs 19,500 per maund, 400 bakes of Kotsabzal, 200 bales of Chichawatni were sold at Rs 20,000 per maund, 200 bales of Burewala were sold at Rs 20,000 per maund, 800 bales of Sadiqabad were sold at Rs 21,000 per maund, 1400 bales of Haroonabad were sold at Rs 20,000 to Rs 21,000 per maund, 400 bales of Fort Abbas, 200 bales of FaqeerWali were sold at Rs 21,000 per maund, 400 bales of Yazman and 400 bales of Hasilpur were sold at Rs 20,500 per maund.

The Spot Rate Committee of the Karachi Cotton Association (KCA) on Saturday decreased the spot rate by Rs 1000 per maund and closed it at Rs 20,000 per maund. The Polyester Fiber was available at Rs 300 per kg.

Copyright Business Recorder, 2022