LAHORE: The arrival of cotton of new season 2024-25 has started as 200 bales of cotton from Hyderabad factory were sold at Rs 20,400 per maund.

Cotton Analyst Naseem Usman told Business Recorder that it is expected that more ginning factories will start their operations from the coming week. The Phutti of the new season, which is coming from different areas of Interior Sindh, is available at Rs 9,000 to Rs 10,500 per 40kg. Naseem also said that the local cotton market remained bearish on Wednesday and the trading volume remained low.

He further said that cotton prices in Sindh and Punjab ranged from Rs 19,500 to Rs 21,500 per maund, while Phutti prices in Punjab were between Rs 9,500 and Rs 10,000 per 40 kg. 400 bales of Khan Pur were sold at Rs 22,000 per maund.

The spot rate remained unchanged at Rs 19,700 per maund, and Polyester Fiber was available at Rs 367 per kg.

Copyright Business Recorder, 2024