LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday decreased the spot rate by Rs 800 per maund and closed it at Rs 21,000 per maund.

The local market remained bearish and the trading volume remained was low.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 8,000 to Rs 21,000 per maund.

The rate of cotton in Punjab is in between Rs 19,000 to Rs 21,500 per maund. The rate of Phutti in Sindh is between Rs 6,500 to Rs 9,000 per 40 kg. The rate of Phutti in Punjab is in between Rs 7,500 to Rs 10,500 per 40 kg.

He also told that 300 bales of Hyderabad were sold at Rs 18,000 per maund, 400 bales of Mehrab Pur, 600 bales of Rasoolabad were sold at Rs 18,500 per maund, 200 bales of Ghani Goth were sold at Rs 19,800 per maund, 1000 bales of Mianwali were sold at Rs 21,000 per maund, 800 bales of Yazman Mandi were sold at Rs 20,000 to Rs 21,000 per maund, 200 bales of Lodhran were sold at Rs 20,000 per maund and 400 bales of Haroonabad were sold at Rs 19,500 per maund.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 800 per maund and closed it at Rs 21,000 per maund. The rate of Polyester Fiber was increased by Rs 5 and was available at Rs 345 per kg

Copyright Business Recorder, 2023