Firm trend on cotton market

LAHORE: The local cotton market on Tuesday remained bearish and the trading volume remained low.

Cotton Analyst Naseem Usman told Business Recorder that the rate of new crop of cotton in Sindh is Rs 19,600 to Rs 20,300 per maund. The rate of Phutti in Sindh is in between Rs 8,000 to Rs 9,200 per 40 kg. The rate of cotton in Punjab Rs 19,900 to Rs 20,500 per maund and the rate of Phutti in Punjab is in between Rs 8,000 to Rs 9,500 per 40 kg. The rate of cotton in Balochistan is Rs 19,800 to Rs 20,200 per maund while the rate of Phutti is in between Rs 9,000 to Rs 10,500 per 40 kg.

Around, 800 bales of Tando Adam were sold at Rs 19,800 to Rs 20,000 per maund, 800 bales of Shahdad Pur were sold at Rs 19,900 to Rs 20,000 per maund, 600 bales of Saleh Pat, 200 bales of Rohri were sold at Rs 20,500 per maund, 200 bales of Fort Abbas were sold at Rs 21,000 per maund, 400 bales of Layyah were sold at Rs 20,700 to Rs 21,000 per maund, 200 bales of Vehari and 400 bales of Haroonabad were sold at Rs 21,000 per maund.

The Spot Rate remained unchanged at Rs 20,300 per maund. Polyester Fiber was available at Rs 378 per kg.

Copyright Business Recorder, 2023