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

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

Cotton Analyst Adil Naseem told Business Recorder that the rate of cotton in Sindh and Punjab is in between Rs 20,000 to Rs 22,500 per maund. Phutti prices in Punjab were observed between Rs 8,500 and Rs 10,000 per 40 kg.

200 bales of Mando Deno were sold at Rs 21,400 per maund, 400 bales of Deherki were sold at Rs 21,500 per maund, 1817 bales of Fort Abbas were sold at Rs 20,500 to Rs 21,000 per maund, 600 bales of Faqeer Wali were sold at Rs 20,800 per maund, 400 bales of Bahawalpur were sold at Rs 20,800 per maund, 1,000 bales of Haroonabad were sold at Rs 21,000 to Rs 22,000 per maund, 2200 bales of Rahim Yar Khan were sold at Rs 21,500 to Rs 22,000 per maund and Chichawatni were sold at Rs 22,500 per maund.

The Spot Rate Committee of the Karachi Cotton Association decreased 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