LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Friday decreased the spot rate by Rs 200 per maund and closed it at Rs 18,800 per maund.

The local cotton market remained bearish and the trading volume remained satisfactory. Cotton Analyst Naseem Usman said that the rate of cotton in Sindh is in between Rs 17,000 to Rs 19,000 per maund.

The rate of cotton in Punjab is in between Rs 18,000 to Rs 19,500 per maund. The rate of Phutti in Sindh is between Rs 7,500 to Rs 9,000 per 40 kg. The rate of Phutti in Punjab is in between Rs 7,500 to Rs 10,000 per 40 kg. The rate of cotton in Balochistan is in between Rs 18,000 to Rs 19,000 per maund.

100 bales of Khair Pur were sold at Rs 17,500 to Rs 17,800 per maund, 600 bales of Mian Wali were sold at Rs 20,000 per maund, 600 bales of Haroonabad were sold at Rs 18,500 per maund and 200 bales of Yazman Mandi were sold at Rs 19,200 per maund.

The Spot Rate Committee of the Karachi Cotton Association (KCA) on Friday decreased the spot rate by Rs 200 per maund and closed it at Rs 18,800 per maund. Fiber was available at Rs 305 per kg.

Copyright Business Recorder, 2022