LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday increased the spot rate by Rs 500 per maund and closed it at Rs 20,000 per maund. The local cotton market remained firm and the trading volume remained low.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 18,000 to Rs 20,500 per maund. The rate of cotton in Punjab is in between Rs 18,000 to Rs 21,000 per maund. The rate of Phutti in Sindh is between Rs 6,000 to Rs 8,500 per 40 kg. The rate of Phutti in Punjab is in between Rs 7,000 to Rs 10,500 per 40 kg. The rate of Balochi cotton is Rs 20,500 per maund.

400 bales of Mehrab Pur were sold at Rs 20,000 per maund, 400 bales of Dherki were sold at Rs 20,400 per maund (conditional) and 1310 bales of Dharan Wala were sold at Rs 19,400 per maund.

200 bales of Ghotki were sold at Rs 20,000 per maund, 200 bales of Fort Abbas were sold at Rs 19,000 per maund, 400 bales of Rajan Pur were sold at Rs 21,000 per maund, 200 bales of Khair Pur were sold at Rs 21,500 per maund, 400 bales of Bagho Bahar were sold at Rs 20,800 per maund and 400 bales of Bahawal Nagar were sold at Rs 19,800 per maund.

The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 500 per maund and closed it at Rs 20,000 per maund. Polyester Fiber was available at Rs 285 per kg.

Copyright Business Recorder, 2023