LAHORE: The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 5,00 per maund and closed it at Rs 21,500 per maund.

The local cotton market remained tight and the trading volume remained limited.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh and Punjab is in between Rs 20,000 to Rs 23,000 per maund. Phutti prices in Punjab were observed between Rs 8,500 and Rs 10,000 per 40 kg.

600 bales of Chichawatni were sold at Rs 23,000 per maund, 1200 bales of Rahim Yar Khan were sold at Rs 22,000 per maund, 1840 bales of Sadiqabad were sold at Rs 22,000 to Rs 22,500 per maund, 200 bales of Fort Abbas were sold at Rs 22,000 per maund and 400 bales of Layyah were sold at Rs 20,800 per maund.

The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 5,00 per maund and closed it at Rs 21,500 per maund.

Moreover, Polyester fiber was available in the market at Rs 365 per kg.

Copyright Business Recorder, 2024