LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday decreased the spot rate by Rs 2,00 per maund and closed it at Rs 17,500 per maund.

The local cotton market remained steady 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 17,700 to Rs 17,800 per maund.

The rate of Phutti in Sindh is in between Rs 7,000 to Rs 8,000 per 40 kg. The rate of cotton in Punjab is in between Rs 18,000 to Rs 18,200 per maund and the rate of Phutti is in between Rs 7,500 to Rs 8,500 per 40 kg.

200 bales of Sanghar were sold at Rs 17,300 per maund, 1000 bales of Khadro, 1000 bales of Shah Pur Chakar were sold at Rs 17,400 to Rs 17,500 per maund, 1200 bales of Tando Adam were sold at Rs 16,800 to Rs 17,400 per maund, 400 bales of Kotri were sold at Rs 16,800 to Rs 16,900 per maund, 600 bales of Shahdad Pur were sold at Rs 17,300 to Rs 17,500 per maund, 600 bales of Hyderabad were sold at Rs 17,200 to Rs 17,400 per maund, 600 bales of Khanewal were sold at Rs 18,000 to Rs 18,500 per maund, 200 bales of Hasil Pur were sold at Rs 18,000 per maund, 600 bales of Vehari and 200 bales of Chichawatni were sold at Rs 18,500 per maund and 400 bales of Winder were sold at Rs 17,300 to Rs 17,400 per maund.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 2,00 per maund and closed it at Rs 17,500 per maund. Polyester Fiber was available at Rs 355 per kg.

Copyright Business Recorder, 2023