Modest trading on cotton market

LAHORE: The local cotton market on Saturday remained easy and the trading volume remained low.

Cotton Analyst Naseem Usman told Business Recorder that the buyer is conscious about heavy moisture in cotton and remains on the sideline waiting for the quality to get better.

He also told that the rate of new crop of cotton in Sindh is in between Rs 17,500 to Rs 17,800 per maund. The rate of Phutti in Sindh is in between Rs 7,500 to Rs 7,800 per 40 kg. The rate of cotton in Punjab is in between Rs 17,900 to Rs 18,300 per maund and the rate of Phutti is in between Rs 7,300 to Rs 7,700 per 40 kg.

The rate of cotton in Balochistan is Rs 17,600 to Rs 17,700 per maund while the rate of Phutti is in between Rs 7,200 to Rs 8,000 per 40 kg.

200 bales of Saleh Pat were sold at Rs 17,800 per maund, 400 bales of Shah Pur Chakar, 400 bales of Tando Adam were sold at Rs 17,700 per maund, 400 bales of Chowdagi were sold at Rs 17,600 to Rs 17,700 per maund, 400 bales of Shahdad Pur, 400 bales of Hyderabad were sold at Rs 17,600 per maund, 200 bales of Rajan Pur, 400 bales of Chichawatni, 400 bales of Khair Pur Tamiwali were sold at Rs 18,100 per maund and 600 bales of Burewala were sold at Rs 17,900 per maund.

The Spot Rate remained unchanged at Rs 17,935 per maund. Polyester Fiber was available at Rs 350 per kg.

Copyright Business Recorder, 2023