LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday increased the spot rate by Rs 200 per maund and closed it at Rs 16,700 per maund.

The local cotton market was tight and 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 17,000 to Rs 17,200 per maund. The rate of Phutti in Sindh is in between Rs 6,800 to Rs 7,200 per 40 kg.

The rate of cotton in Punjab is in between Rs 17,300 to Rs 17,500 per maund and the rate of Phutti is in between Rs 7,200 to Rs 8,500 per 40 kg. The rate of cotton in Balochistan is Rs 16,800 to Rs 17,000 per maund while the rate of Phutti is in between Rs 72,00 to Rs 8,500 per 40 kg.

Around, 800 bales of Jhole were sold at Rs 17,000 per maund, 1000 bales of Shah Pur Chakar were sold at Rs 16,800 to Rs 16,950 per maund, 400 bales of Kotri were sold at Rs 16,600 to Rs 17,000 per maund, 400 bales of Moro were sold at Rs 16,800 to Rs 16,850 per maund, 1400 bales of Mir Pur Khas were sold at Rs 16,575 to Rs 17,000 per maund, 1800 bales of Shah Dad Pur were sold at Rs 16,500 to Rs 16,800 per maund, 800 bales of Chichawatni were sold at Rs 17,000 to Rs 17,100 per maund, 800 bales of Mian Channu were sold at Rs 17,100 to Rs 17,200 per maund, 200 bales of Layyah were sold at Rs 16,900 per maund, 200 bales of Khanewal, 200 bales of Sahiwal were sold at Rs 17,300 per maund, 400 bales of Peer Mahal, 1600 bales of Burewala were sold at Rs 16,900 to Rs 17,200 per maund and 400 bales of Sadiqabad were sold at Rs 17,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association (KCA) increased the spot rate by Rs 200 per maund and closed it at Rs 16,700 per maund. Polyester Fiber was available at Rs 350 per kg.

Copyright Business Recorder, 2023