LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday decreased the spot rate by Rs 3,00 per maund and closed it at Rs 18,700 per maund.

The local cotton market remained bearish and the trading volume remained satisfactory. Cotton Analyst Naseem Usman told Business Recorder that the rate of new crop of cotton in Sindh is in between Rs 18,300 to Rs 18,600 per maund. The rate of Phutti in Sindh is in between Rs 7,200 to Rs 8,000 per 40 kg. The rate of cotton in Punjab is in between Rs 19,500 to Rs 19,700 per maund and the rate of Phutti is in between Rs 8,800 to Rs 9,500 per 40 kg.

Around, 4600 bales of Tando Adam were sold at Rs 18,500 to Rs 18,800 per maund, 200 bales of Khando were sold at Rs 18,500 per maund, 600 bales of Khadro were sold at Rs 18,500 to Rs 18,700 per maund, 400 bales of Shah Pur Chakar were sold at Rs 18,500 to Rs 18,700 per maund, 600 bales of Mir Pur Khas were sold at Rs 18,500 to Rs 18,800 per maund, 1600 bales of Sanghar were sold at Rs 18,500 to Rs 18,800 per maund, 100 bales of Chichawatni were sold at Rs 19,700 per maund, 200 bales of Hasil Pur, 200 bales of Khanewal were sold at Rs 19,600 per maund.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 3,00 per maund and closed it at Rs 18,700 per maund. Polyester Fiber was available at Rs 355 per kg.

Copyright Business Recorder, 2023