LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday decreased the spot rate by Rs 3,00 per maund and closed it at Rs 17,900 per maund.

The local cotton market remained bearish and the trading volume remained low.

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 6,500 to Rs 7,700 per 40 kg. The rate of cotton in Punjab Rs 17,500 to Rs 18,000 per maund and the rate of Phutti in Punjab is in between Rs 7,200 to Rs 8,200 per 40 kg. The rate of cotton in Balochistan is Rs 16,000 to Rs 16,500 per maund while the rate of Phutti is in between Rs 7,500 to Rs 8,500 per 40 kg.

400 bales of Dadu were sold at Rs 17,500 per maund, 400 bales of Ghotki, 200 bales of Shadan Lund were sold at Rs 17,800 per maund, 200 bales of Layyah were sold at Rs 18,000 per maund, 1,000 bales of Dera Ghazi Khan (Baloch) were sold at Rs 18500.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 300 per maund and closed it at Rs 17,900 per maund. The rate of Polyester Fiber decreased by Rs 5 per kg and was available at Rs 378 kg.

Copyright Business Recorder, 2023