LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday increased the spot rate by Rs 1,000 per maund and closed it at Rs 22,000 per maund.

The local cotton market remained steady and the trading volume remained low. Cotton Analyst Naseem Usman said 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 said that the rate of cotton in Sindh is in between Rs 17,000 to Rs 21,000 per maund. The rate of cotton in Punjab is in between Rs 22,000 to Rs 23,000 per maund. The rate of Phutti in Sindh is between Rs 6,000 to Rs 8,000 per 40 kg. The rate of Phutti in Punjab is in between Rs 8,000 to Rs 11,000 per 40 kg. The rate of cotton in Balochistan is in between Rs 17,000 to Rs 18,000 per maund.

400 bales of Saleh Pat were sold at Rs 20,000 to Rs 20,500 per maund, 200 bales of Rohri were sold at Rs 20,000 per maund, 1200 bales of Tando Adam were sold at Rs 16,800 to Rs 17,000 per maund, 200 bales of Shahdadpur were sold at Rs 19,000 per maund, 800 bales of Sadiqabad were sold at Rs 22,000 to Rs 24,000 per maund, 2200 bales of Haroonabad were sold at Rs 22,800 to Rs 23,000 per maund, 800 bales of Fort Abbas were sold at Rs 23,000 per maund, 1800 bales of Yazman Mandi were sold at Rs 22,800 to Rs 23,000 per maund, 600 bales of Marrot, 400 bales of Lodhran were sold at Rs 23,000 per maund, 400 bales of Chichawatni, 400 bales of Mianchannu, 400 bales of Bahawlpur were sold at Rs 22,500 per maund, 400 bales of Burewala, 400 bales of Vehari, 400 bales of Shujabad, 400 bales of Samundri were sold at Rs 22,000 per maund, 200 bales of Chistian were sold at Rs 21,800 per maund and 200 bales of Hasil Pur were sold at Rs 21,700 per maund.

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 22,000 per maund. The Polyester Fiber was available at Rs 300 per kg.

Copyright Business Recorder, 2022