Sporadic rains keep buyers away from cotton market
LAHORE: The local cotton market on Wednesday remained bearish and the trading volume was low.
Cotton Analyst Naseem Usman told that the reason behind low trading volume is rains in the cotton belt of the country. He also told that the rate of cotton in Sindh is in between Rs 16,500 to Rs 17,500 per maund. The rate of cotton in Punjab is in between Rs 17,500 to Rs 18,500 per maund. The rate of Phutti in Sindh is in between Rs 6,000 to Rs 7,200 per 40 kg. The rate of Phutti in Punjab is in between Rs 6,500 to Rs 9,000 per 40 Kg. The rate of cotton in Balochistan is in between Rs 16,000 to Rs 16,500 per maund.
The Spot Rate remained unchanged at Rs 17,000 per maund. The Polyester Fiber was available at Rs 325 per kg.
Copyright Business Recorder, 2022
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