LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Saturday decreased the spot rate by Rs 300 per maund and closed it at Rs 18,200 per maund. The local cotton market remained bearish and the trading volume remained satisfactory.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is Rs 16,000 to Rs 17,800 per maund. The rate of Phutti in Sindh is in between Rs 7,200 to Rs 8,000 per 40 kg. The rate of cotton in Punjab Rs 18,000 to Rs 18,500 per maund and the rate of Phutti in Punjab is in between Rs 7,500 to Rs 8,200 per 40 kg. The rate of cotton in Balochistan is Rs 16,500 to Rs 17,700 per maund while the rate of Phutti is in between Rs 7,200 to Rs 8,500 per 40 kg.

Around, 400 bales of Hyderabad were sold at Rs 16000 per maund, 1400 bales of Sanghar were sold at Rs 16,000 to Rs 17,000 per maund, 600 bales of Shahdad Pur were sold at Rs 17,000 to Rs 17,500 per maund, 1600 bales of Tando Adam were sold at Rs 16,800 to Rs 17,800 per maund, 2000 bales of Khair Pur Rs 17,500 to Rs 17,800 per maund, 400 bales of Dehrki were sold at Rs 18,500 per maund, 400 bales of Karor Lal Ahsan, 400 bales of Bakhar were sold at Rs 18,000 per maund, 400 bales of Mian Wali were sold at Rs 18,500 per maund, 200 bales of Bahawalnagar were sold at Rs 18,100 per maund, 400 bales of Chishtian, 600 bales of Shujaabad, 400 bales of Noor Pur Noranga, 800 bales of Haroonabad were sold at Rs 18,500 per maund and 400 bales of Dera Ghazi Khan (Balochi) were sold at Rs 18,900 per maund.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 300 per maund and closed it at Rs 18,200 per maund. Polyester Fiber was available at Rs 383 per kg.

Copyright Business Recorder, 2023