Rising trend continues on cotton market

LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday increased the spot rate by Rs 300 per maund and closed it at Rs 19,800 per maund. The local cotton market remained firm and the trading volume remained satisfactory.

Cotton Analyst Naseem Usman told Business Recorder that the rate of new crop of cotton in Sindh is Rs 19,800 to Rs 20,800 per maund. The rate of Phutti in Sindh is in between Rs 8,200 to Rs 9,200 per 40 kg. The rate of cotton in Punjab Rs 20,000 to Rs 20,300 per maund and the rates of Phutti are in between Rs 8,500 to Rs 9,500 per 40 kg. The rate of cotton in Balochistan is Rs 19,700 to Rs 19,800 per maund while the rate of Phutti is in between Rs 10,000 to Rs 10,500 per 40 kg.

Around, 800 bales of Akri Hyder Shah, 800 bales of Kotri Kabeer, 600 bales of Rani Pur were sold at Rs 19,950 to Rs 20,000 per maund, 2800 bales of Saleh Pat were sold in between 19,700 to Rs 20,000 per maund, 800 bales of Rohri were sold in between Rs 19,800 to Rs 20,000 per maund, 400 bales of Pir Wasan were sold in between Rs 19,950 per maund, 200 bales of Sui Gas, 200 bales of Mehrab Pur, 200 bales of Rasoolabad, 400 bales of Hingorja were sold at Rs 19,975 per maund, 2600 bales of Sanghar were sold in between Rs 19,500 to Rs 19,600 per maund, 200 bales of Mir Pur Khas were sold at Rs 19,600 per maund, 200 bales of Nauabad were sold at Rs 19,400 per maund, 2800 bales of Tando Adam were sold at Rs 19,300 to Rs 19,500 per maund, 2800 bales of Shahdad Pur were sold in between Rs 19,300 to Rs 19,500 per maund, 800 bales of Sarkand were sold at Rs 19,500 to Rs 19,800 per maund, 900 bales of Mureed Wala, 200 bales of Yazman Mandi, 1400 bales of Lodhran, 200 bales of Mungi Bangla, 400 bales of Dera Ghazi Khan, 600 bales of Chichawatni, 800 bales of Haroonabad, 2000 bales of Layyah, 1800 bales of Vehari, 300 bales of Multan, 400 bales of Fort Abbas, 600 bales of Rahim Yar Khan, 200 bales of Sadiqabad were sold at Rs 20,000 per maund and 800 bales of Utal were sold in between Rs 19,500 to Rs 19,800 per maund.

The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 300 per maund and closed it at Rs 19,800 per maund. Polyester Fiber was available at Rs 370 per kg.

Copyright Business Recorder, 2023