Cotton market: Firm trend amid modest trading activity

LAHORE: The local cotton market on Monday remained steady and the trading volume remained low.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is Rs 18,500 to Rs 19,000 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 Rs 19,000 to Rs 19,500 per maund and the rate of Phutti in Punjab is in between Rs 8,000 to Rs 8,200 per 40 kg. The rate of cotton in Balochistan is Rs 18,500 to Rs 19,000 per maund while the rate of Phutti is in between Rs 8,500 to Rs 9,500 per 40 kg.

Around, 600 bales of Saleh pat, 400 bales of Rasoolabad were sold at Rs 18,700 per maund, 1000 bales of Tando Adam were sold at Rs 18,000 to Rs 18,500 per maund, 600 bales of Shahdad Pur were sold at Rs 18,300 to Rs 18,500 per maund, 400 bales of Tunsa Shareef were sold at Rs 19,200 per maund, 1800 bales of Layyah were sold at Rs 19,100 to Rs 19,500 per maund, 600 bales of Raj an Pur were sold at Rs 19,200 per maund, 200 bales of Donga Bonga , 200 bales of Mianwali were sold at Rs 19,500 per maund, 200 bales of Chichawatni were sold at 19,400 per maund and 600 bales of Dera Ghazi Khan were sold at Rs 19,500 per maund.

Pakistan Cotton Ginners Association has released the data of cotton production in the country till September 15, according to which during this period cotton production in the country was 39 lac and 34 thousand bales compared to 17 lac and 47 thousand bales which is around eighty percent more as compared to the same period last year.

The Spot Rate remained unchanged at Rs 19,000 per maund. The rate of Polyester Fiber was increased by Rs 5 and was available at Rs 383 per kg.

Copyright Business Recorder, 2023