LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday decreased the spot rate by Rs 2,00 per maund and closed it at Rs 17,500 per maund. The local cotton market remained bearish and the trading volume remained a low.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 15,500 to Rs 17,500 per maund. The rate of Phutti in Sindh is in between Rs 5,000 to Rs 7,500 per 40 kg. The rate of cotton in Punjab Rs 16,000 to Rs 17,500 per maund and the rate of Phutti in Punjab is in between Rs 6,500 to Rs 8,200 per 40 kg. The rate of cotton in Balochistan is Rs 15,500 to Rs 16,500 per maund while the rate of Phutti is in between Rs 6,500 to Rs 8,300 per 40 kg.

Around, 400 bales of Ubaro were sold at Rs 17,500 per maund, 800 bales of Haroonabad were sold at Rs 17,000 to Rs 17,300 per maund, 200 bales of Fort Abbas were sold at Rs 17,000 per maund, 200 bales of Kachi Wala were sold at Rs 16,500 per maund, 600 bales of MianWali were sold at Rs 17,500 per maund, 200 bales of Shujabad were sold at Rs 16,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association (KCA) decreased the spot rate by Rs 2,00 per maund and closed it at Rs 17,500 per maund. The rate of Polyester Fiber was increased by Rs 2 per kg and was available at Rs 360 per kg.

Copyright Business Recorder, 2023