LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday decreased the spot rate by Rs 500 per maund and closed it at Rs 20,500 per maund. The local market remained bearish and the trading volume remained satisfactory.

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 19,000 to Rs 21,000 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 725 bales of Kotri were sold at Rs 18,200 per maund, 400 bales of Khadro were sold at Rs 18,300 per maund, 1483 bales of Rohri were sold at Rs 18,400 per maund, 1151 bales of Karondi were sold at Rs 18,500 per maund, 1000 bales of Shahdad Pur were sold at Rs 20,000 per maund, 600 bales of Panu Aqil, 600 bales of Ghotki were sold at Rs 20,500 per maund, 400 bales of Sanghar were sold at Rs 20,800 per maund, 600 bales of Fort Abbas were sold at Rs 20,000 to Rs 21,000 per maund (consdition), 200 bales of Lodhran were sold at Rs 19,500 per maund, 2000 bales of Yazman Mandi were sold at Rs 19,000 to Rs 19,500 per maund, 1400 bales of Haroonabad were sold at Rs 19,500 to Rs 19,800 per maund, 800 bales of Faqeer Wali were sold at Rs 19,500 per maund and 200 bales of Rahim Yar Khan were sold at 21,000 per maund (condition).

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 500 per maund and closed it at Rs 20,500 per maund. Polyester Fiber was available at Rs 345 per kg.

Copyright Business Recorder, 2023