LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday increased the spot rate by Rs 300 per maund and closed it at Rs 17,300 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 17,200 to Rs 17,400 per maund. The rate of Phutti in Sindh is in between Rs 7,300 to Rs 7,600 per 40 kg.

The rate of cotton in Punjab is in between Rs 17,600 to Rs 17,700 per maund and the rate of Phutti is in between Rs 7,200 to Rs 8,000 per 40 kg. The rate of cotton in Balochistan is Rs 17,200 to Rs 17,300 per maund while the rate of Phutti is in between Rs 7,200 to Rs 7,700 per 40 kg.

About 7,000 bales of Tando Adam were sold in between Rs 17,400 to Rs 17,800 per maund, 3,000 bales of Shahdad Pur, 1600 bales of Mir Pur Khas were sold at Rs 17,300 to Rs 17,800 per maund, 32,00 bales of Sanghar were sold at Rs 17,300 to Rs 17,600 per maund, 400 bales of Hyderabad were sold at Rs 17,500 per maund, 200 bales of Mian Channu, 1000 bales of Haroonabad, 200 bales of Peer Mahal and 200 bales of Lodhran were sold at Rs 18,000 per maund,

The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 300 per maund and closed it at Rs 17,300 per maund. The rate of Polyester Fiber decreased by Rs 5 per kg and was available at Rs 345 per kg.