LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday increased the spot rate by Rs 500 per maund and closed it at Rs 19,400 per maund. The local cotton market remained bullish and the trading volume remained satisfactory.
Cotton Analyst Naseem Usman told Business Recorder that the spot rate increased by Rs 900 in two days. The rate of new crop of cotton in Sindh is 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 20,200 per maund and the rate of Phutti is in between Rs 8,000 to Rs 9,000 per 40 kg. The rate of cotton in Balochistan is Rs 19,000 to Rs 19,700 per maund while the rate of Phutti is in between Rs 8,000 to Rs 9,000 per 40 kg.
Around, 600 bales of Hyderabad, 800 bales of Mir Pur Khas, 1600 bales of Sanghar, 200 bales of Nawab Shah, 200 bales of Sarkand, 1200 bales of Shahdad Pur were sold at Rs 19,000 per maund, 3400 bales of Saleh Pat were sold at Rs 19,000 to Rs 19,200 per maund, 2400 bales of Tando Adam were sold at Rs 18,325 to Rs 19,100 per maund, 800 bales of Mehrab Pur were sold at Rs 19,100 per maund, 600 bales of Mian Channu, 1200 bales of Lodhran were sold at Rs 20,000 per maund, 200 bales of Chistian, 400 bales of Faqeer Wali were sold at Rs 19,500 per maund, 600 bales of Vehari were sold at Rs 19,500 to Rs 19,700 per maund, 200 bales of Bahawalpur were sold at Rs 19,100 per maund, 400 bales of Chichawatni, 800 bales of Dera Ghazi Khan were sold at Rs 19,700 per maund, 800 bales of Dera Ghazi Khan were sold at Rs 19,500 to Rs 20,000 per maund, 800 bales of Layyah were sold at Rs 19,400 to Rs 19,600 per maund, 600 bales of Haroonabad were sold at Rs 19,600 to Rs 19,800 per maund, 200 bales of Mureed Wala were sold at Rs 19,900 per maund, 200 bales of Hasil Pur, 200 bales of Gojra, 400 bales of Burewala were sold at Rs 19,800 per maund, 200 bales of Arif Wala, 200 bales of Ahmed Pur East were sold at Rs 19,500 per maund, 600 bales of Fort Abbas were sold at Rs 19,700 per maund, 600 bales of Winder, 600 bales of Lasbela and 600 bales of Utal were sold at Rs 19,000 per maund.
The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 400 per maund and closed it at Rs 19,400 per maund. Polyester Fiber was available at Rs 365 per kg.
Copyright Business Recorder, 2023
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