LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Tuesday increased the spot rate by Rs 300 per maund and closed it at Rs 19,500 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 Rs 19,500 to Rs 19,800 per maund. The rate of Phutti in Sindh is in between Rs 8,200 to Rs 9,200 per 40 kg. The rate of cotton in Punjab is Rs 20,000 per maund and the rate of Phutti is in between Rs 8,000 to Rs 9,500 per 40 kg. The rate of cotton in Balochistan is Rs 19,500 to Rs 19,800 per maund while the rate of Phutti is in between Rs 8,500 to Rs 10,000 per 40 kg.

3000 bales of Khair Pur were sold at Rs 19,400 to Rs 19,600 per maund, 1000 bales of Rohri were sold at Rs 19,300 to Rs 19,600 per maund, 1600 bales of Saleh Pat were sold at Rs 19,500 to Rs 19,600 per maund, 600 bales of Hyderabad were sold at Rs 19,000 to Rs 19,500 per maund, 200 bales of Sanghar were sold at Rs 19,300 to Rs 19,400 per maund, 200 bales of Shahdad Pur were sold at Rs 19,400 per maund, 2600 bales of Tando Adam were sold at Rs 19,300 to Rs 19,500 per maund, 800 bales of Nawab Shah, 400 bales of Mir Pur Khas were sold at Rs 19,300 to Rs 19,450 per maund, 400 bales of Fort Abbas, 800 bales of Haroonabad, 1200 bales of Vehari were sold at Rs 19,800 to Rs 20,000 per maund, 400 bales of Yazman Mandi, 1800 bales of Fort Abbas, 800 bales of Layyah were sold at Rs 20,000 per maund, 800 bales of Marrot were sold at Rs 19,800 to Rs 20,000 per maund, 200 bales of Donga Bonga, 600 bales of Faqeer Wali, 600 bales of Gojra, 200 bales of Hasil Pur, 1000 bales of Khanewal, 200 bales of Noor Pur Noranga, 800 bales of Rahim Yar Khan were sold at Rs 20,000 per maund, 200 bales of Rajan Pur were sold at Rs 19,700 per maund, 800 bales of Tunsa Shareef were sold at Rs 20,000 per maund, 200 bales of Ahmed Pur East, 800 bales of Ali Pur were sold at Rs 19,500 per maund, 1000 bales of Burewala and 200 bales of Chichawatni were sold at Rs 19,800 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 19,500 per maund. The rate of Polyester Fiber increased by Rs 5 and was available at Rs 370 per kg.

Copyright Business Recorder, 2023