LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday decreased the spot rate by Rs 300 per maund and closed it at Rs 18,700 per maund.

The local cotton market remained bearish and the trading volume remained very low. Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 17,000 to Rs 18,500 per maund. The rate of cotton in Punjab is in between Rs 17,500 to Rs 18,500 per maund. The rate of Phutti in Sindh is between Rs 5,500 to Rs 8,300 per 40 kg. The rate of Phutti in Punjab is in between Rs 6,000 to Rs 8,500 per 40 kg. 500 bales of Sadiqabad were sold at Rs 18,500 per maund.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 300 per maund and closed it at Rs 18,700 per maund. Polyester Fiber was available at Rs 355 per kg.

Copyright Business Recorder, 2023