LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday decreased the spot rate by Rs 500 per maund and closed it at Rs 20,300 per maund.

Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained bearish and the trading volume remained low. He also told that the reason behind the bearish trend is falling prices in international market.

He also told that in terms of pricing, cotton rates in both Sindh and Punjab ranged from Rs 20,000 to Rs 22,000 per maund, while phutti prices in Punjab were observed between Rs 9,500 and Rs 10,000 per 40 kg.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 500 per maund and closed it at Rs 20,300 per maund. Polyester Fiber was available at Rs 367 per kg.

Copyright Business Recorder, 2024