LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday fixed the spot rate of cotton of new crop of cotton 2024-25 at Rs 19,000 per maund.
Cotton Analyst Naseem Usman told Business Recorder that the Spot Rate Committee decreased the spot rate by Rs 7,00 per maund.
He also told that the local cotton market remained bearish and the trading volume remained low.
He also said that the rate of new cotton in Sindh is in between Rs 18,500 to Rs 19,500 per maund. The rate of Phutti in Sindh is in between Rs 8,000 to Rs 9,000 per 40 kg.
The rate of cotton in Punjab is in between Rs 20,000 to Rs 20,500 per maund. The rate of Phutti in Punjab is in between Rs 9,000 to Rs 9,200 per 40 kg.
3400 bales of Tando Adam were sold at Rs 19,000 to Rs 19,400 per maund, 100 bales of Burewala were sold at Rs 21,000 per maund and 200 bales of Chichawatni were sold at Rs 21,000 per maund.
The Spot Rate Committee of the Karachi Cotton Association on Thursday fixed the spot rate of cotton of new crop of cotton 2024-25 at Rs 19,000 per maund. Polyester Fiber was available at Rs 367 per kg.
Copyright Business Recorder, 2024