LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday decreased the spot rate by Rs 1,000 per maund and closed it at Rs 16,500 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 16,300 to Rs 16,500 per maund. The rate of Phutti in Sindh is in between Rs 6,700 to Rs 72,00 per 40 kg. The rate of cotton in Punjab is in between Rs 17,000 to Rs 17,200 per maund and the rate of Phutti is in between Rs 7,500 to Rs 8,500 per 40 kg.

Around, 4,200 bales of Tando Adam were sold at Rs 16,400 to Rs 16,700 per maund, 2200 bales of Sanghar were sold at Rs 16,200 to Rs 16,500 per maund, 1200 bales of Shah Pur Chakar, 1800 bales of Mir Pur Khas were sold at Rs 16,500 to Rs 16,600 per maund, 1600 bales of Shahdad Pur were sold at Rs 16,400 to Rs 16,600 per maund, 800 bales of Hyderabad were sold at Rs 16,300 to Rs 16,500 per maund, 800 bales of Khando, 800 bales of Tando Muhammad were were sold at Rs 16,400 per maund, 400 bales of Rajan Pur were sold at Rs 16,850 per maund, 600 bales of Chichawatni were sold at Rs 17,000 per maund and 800 bales of Burewala were sold at Rs 17,200 to Rs 17,300 per maund.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 1,000 per maund and closed it at Rs 16,500 per maund. Polyester Fiber was available at Rs 355 per kg.

Copyright Business Recorder, 2023