LAHORE: The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 200 per maund and closed it at Rs 19,500 per maund.
The local cotton market remained bullish and the trading volume remained satisfactory. Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 17,000 to Rs 20,000 per maund. The rate of cotton in Punjab is in between Rs 18,000 to Rs 20,000 per maund. The rate of Phutti in Sindh is between Rs 5,500 to Rs 8,300 per 40 kg. The rate of Phutti in Punjab is in between Rs 6,000 to Rs 8,500 per 40 kg.
1200 bales of Khan Pur were sold at Rs 20,200 to Rs 20,500 per maund, 2000 bales of Rahim Yar Khan, 1,000 bales of Mureedwala, 800 bales of Sadiqabad and 400 bales of Chani Goth were sold at Rs 20,000 per maund.
The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 200 per maund and closed it at Rs 19,500 per maund. Polyester Fiber was available at Rs 373 per kg.
Copyright Business Recorder, 2023
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