LAHORE: The local cotton market maintained its stability on Saturday, with trading activity subdued.

According to Cotton Analyst Naseem Usman, prices in both Sindh and Punjab regions ranged between Rs 19,000 and Rs 21,000 per maund.

In Punjab, Phutti prices were reported between Rs 8,000 and Rs 9,200 per 40 kg, while in Balochistan, cotton prices ranged from Rs 17,500 to Rs 18,000 per maund.

Reports from the Pakistan Cotton Ginners Association (PCGA) revealed that over 8.3 million bales of seed cotton (Phutti) had been delivered to ginning factories nationwide as of January 31. Of these, approximately 8,308,790 bales had been processed into cotton bales.

Punjab contributed over 4.2 million bales, while Sindh’s share stood at over 4.1 million bales. The textile sector purchased the majority of the bales, with exporters acquiring a smaller portion. Notably, the Trading Corporation of Pakistan (TCP) refrained from purchasing during the current cotton season.

Sanghar district in Sindh recorded the highest cotton arrival figure, followed by Bahawalnagar district in Punjab.

A total of 151 ginning factories were operational across the country, with approximately 372,710 cotton bales of unsold stock in these facilities.

The Spot Rate remained stable at Rs 20,000 per maund, signaling market equilibrium. Furthermore, polyester fiber was available at Rs 365 per kg.

Copyright Business Recorder, 2024