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 17,500 per maund.

The local cotton market remained bullish 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 17,500 to Rs 17,800 per maund.

The rate of Phutti in Sindh is in between Rs 7,500 to Rs 8,200 per 40 kg. The rate of cotton in Punjab is in between Rs 17,800 to Rs 18,000 per maund and the rate of Phutti is in between Rs 7,600 to Rs 8,600 per 40 kg. The rate of cotton in Balochistan is Rs 17,600 to Rs 17,700 per maund while the rate of Phutti is in between Rs 7,600 to Rs 7,900 per 40 kg.

Around, 200 bales of Rani Pur were sold at Rs 17,700 per maund, 800 bales of Jhole, 800 bales of Moro were sold in between Rs 17,400 to Rs 17,700 per maund, 800 bales of Nawab Shah were sold at Rs 17,400 to Rs 17,600 per maund, 800 bales of Maqsooda Rind were sold at Rs 17,600 to Rs 17,700 per maund, 800 bales of Khair Pur were sold at Rs 17,500 to Rs 17,700 per maund, 800 bales of Sanghar were sold in between Rs 17,300 to Rs 17,500 per maund, 800 bales of Shahdad Pur were sold at Rs 17,400 to Rs 17,550 per maund, 1600 bales of Tando Adam were sold at Rs 17,400 to Rs 17,600 per maund, 600 bales of Mir Pur Khas were sold at Rs 17,475 per maund, 600 bales of Lodhran, 800 bales of Khanewal were sold in between Rs 17,900 to Rs 18,000 per maund, 400 bales of Hasil Pur, 800 bales of Vehari were sold at Rs 17,800 to Rs 18,000 per maund, 400 bales of Chichawatni were sold at Rs 17,900 per maund, 400 bales of Chowk Matila were sold at Rs 18,000 per maund, 600 bales of Ahmed Pur East, 400 bales of Burewala were sold at Rs 17,900 per maund, 400 bales of Peer Mahal were sold at Rs 17,800 to Rs 17,900 per maund, 200 bales of Khair Pur Tamiwali were sold at Rs 17,900 per maund, 1400 bales of Layyah were sold at Rs 17,800 to Rs 17,900 per maund, 1000 bales of Rajan Pur, 800 bales of Fazil Pur were sold at Rs 17,800 per maund, 800 bales of Tounsa Shareef were sold at Rs 17,900 per maund, 200 bales of Faqeer Wali were sold at Rs 17,900 per maund, 200 bales of Jhang were sold at Rs 17,800 per maund and 200 bales of Mian Channu were sold at Rs 17,950 per maund.

The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 200 per maund and closed it at Rs 17,500 per maund. Polyester Fiber was available at Rs 345 per kg.

Copyright Business Recorder, 2023