LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday increased the spot rate by Rs 1000 per maund and closed it at Rs 22,000 per maund.

The local cotton market remained bullish and the trading volume remained satisfactory.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 19,000 to Rs 23,000 per maund. The rate of cotton in Punjab is in between Rs 19,500 to Rs 22,000 per maund. The rate of Phutti in Sindh is between Rs 6,500 to Rs 8,500 per 40 kg. The rate of Phutti in Punjab is in between Rs 7,500 to Rs 10,500 per 40 kg.

1200 bales of Dherki were sold at Rs 22,000 per maund, 800 bales of Dadu were sold at Rs 21,550 to Rs 22,000 per maund, 200 bales of Karundi were sold at Rs 20,900 per maund, 3124 bales of Hyderabad were sold at Rs 23,000 per maund, 2400 bales of Rahim Yar Khan were sold at Rs 22,000 per maund, 400 bales of DG Khan, 400 bales of Mian Wali, 200 bales of Khan Pur were sold at Rs 21,000 per maund, 400 bales of Lodhran, 200 bales of Faqeer Wali, 400 bales of Haroonabad, 200 bales of Hasil Pur and 200 bales of Vehari were sold at Rs 20,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association (KCA) increased the spot rate by Rs 1000 per maund and closed it at Rs 22,000 per maund. Polyester Fiber was available at Rs 330 per kg.

Copyright Business Recorder, 2023