LAHORE: Selective buying was seen on the local cotton market on Wednesday as leading participants were on the sidelines due to lack of interest.

Naseem Usman said that the rate of cotton in Sindh is in between Rs 14,000 to Rs 16,500 per maund. The rate of cotton in Punjab is in between Rs 15,000 to Rs 16,500 per maund.

The rate of Phutti in Sindh is between Rs 4,000 to Rs 8,000 per 40 kg. The rate of Phutti in Punjab is in between Rs 5,000 to Rs 8,200 per 40 kg. The rate of cotton in Balochistan is in between Rs 14,000 to Rs 16,000 per maund.

Neseem said that traders and businessmen are facing a lot of uncertainties under the weak economic condition.

Nearly, 200 bales of Hyderabad were sold at Rs 14,500 per maund, 600 bales of Fort Abbas were sold at Rs 16,700 per maund.

The Spot Rate remained unchanged at Rs 16,500 per maund. Polyester Fiber was available at Rs 285 per kg.

Copyright Business Recorder, 2022