Cotton Market: Prices firm amid modest trading activity

LAHORE: The local cotton market on Tuesday remained bullish and the trading volume remained low. Cotton Analyst Naseem Usman told Business Recorder that the reason behind bullish trend is increase in the rate of dollar. He also told that the the rate of cotton in Sindh is in between Rs 14,500 to Rs 15,000 per maund. The rate of cotton in Punjab is in between Rs 16,500 to Rs 17,500 per maund. The rate of Phutti in Sindh is in between Rs 4000 to Rs 6,000 per 40 Kg. The rate of Phutti in Punjab is in between Rs 6,000 to Rs 7,400 per 40 Kg.

800 bales of Tando Adam were sold at Rs 14,000 to Rs 15,000 per maund 800 bales of Sanghar were sold in between Rs 14,000 to Rs 14,500 per maund, 400 bales of Maqsooda Rind was sold at Rs 14,500 per maund, 400 bales of Hyderabad were sold at Rs 14,300 per maund, 400 bales of Mian Channu were sold at Rs 16,800 to Rs 17,200 per maund, 200 bales of Khanewal were sold at Rs 17,000 per maund and 400 bales of Layyah were sold at Rs 16,800 to Rs 17,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Monday increased the spot rate by Rs 1000 per maund and closed it at Rs 15,500 per maund. The polyester fiber was available at Rs 315 per Kg.

Copyright Business Recorder, 2022