LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday increased the spot rate by Rs 100 per maund and closed it at Rs 18,400 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 18,400 to Rs 18,500 per maund. The rate of Phutti in Sindh is in between Rs 7,500 to Rs 8,500 per 40 kg. The rate of cotton in Punjab is in between Rs 19,000 per maund and the rate of Phutti is in between Rs 7,800 to Rs 8,600 per 40 kg. The rate of cotton in Balochistan is Rs 18,400 to Rs 18,500 per maund while the rate of Phutti is in between Rs 8,000 to Rs 8,600 per 40 kg.

Around, 200 bales of Nawab Shah, 1000 bales of Chowdagi, 200 bales of Buchari, 200 bales of Sultanabad were sold at Rs 18,300 per maund, 600 bales of Tando Adam, 3800 bales of Shahdad Pur were sold at Rs 18,300 to Rs 18,400 per maund, 200 bales of Mir Pur Khas, 400 bales of Khadro, 200 bales of Saleh Pat were sold at Rs 18,200 per maund, 200 bales of Saleh Pat were sold at Rs 18,200 to Rs 18,300 per maund, 800 bales of Khair Pur were sold at Rs 18,200 to Rs 18,300 per maund, 200 bales of Daur were sold at Rs 18,200 to Rs 18,225 per maund, 600 bales of Faqeer Wali were sold at Rs 18,800 to Rs 19,000 per maund, 800 bales of Fort Abbas were sold at Rs 18,800 to Rs 19,000 per maund, 600 bales of Chishtian, 400 bales of Marrot, 1000 bales of Haroonabad, 1200 bales of Rahim Yar Khan were sold at Rs 18,800 per maund, 200 bales of Chichawatni, 200 bales of Mian Channu were sold at Rs 18,900 per maund, 400 bales of Lodhran were sold at Rs 18,800 to Rs 18,900 per maund.

The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 100 per maund and closed it at Rs 18,400 per maund. The rate of Polyester Fiber was increased by Rs 5 and was available at Rs 365 per kg.

Copyright Business Recorder, 2023