LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Saturday decreased the spot rate by Rs 4,00 per maund and closed it at Rs 16,000 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 13,500 to Rs 15,800 per maund.

The rate of Phutti in Sindh is in between Rs 5,000 to Rs 6,500 per 40 kg. The rate of cotton in Punjab Rs 15,000 to Rs 16,000 per maund and the rate of Phutti in Punjab is in between Rs 5,500 to Rs 7,000 per 40 kg.

The rate of cotton in Balochistan is Rs 15,000 to Rs 15,500 per maund while the rate of Phutti is in between Rs 6,500 to Rs 7,500 per 40 kg.

400 bales of Tando Adam were sold at Rs 13,000 to Rs 15,000 per maund, 400 bales of Fort Abbas were sold at Rs 15,900 per maund, 400 bales of Faqeer Wali were sold at Rs 15,900 per maund, 600 bales of Haroonabad were sold at Rs 15,600 to Rs 15, 800 per maund, 200 bales of Donga Bonga were sold at Rs 15,800 per maund and 800 bales of Sadiqa Abad were sold at Rs 16,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 4,00 per maund and closed it at Rs 16,000 per maund. Polyester Fiber was available at Rs 360 per kg.

Copyright Business Recorder, 2023