LAHORE: The local cotton market on Thursday remained steady and the trading volume remained satisfactory.
Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 17,500 to Rs 20,000 per maund. The rate of cotton in Punjab is in between Rs 17,000 to Rs 20,000 per maund. The prices of Phutti were in between Rs 7,000 to 9,200 per 40 kg. Similarly, prices of cotton from Balochistan were registered at Rs 17,000 per maund to Rs 17,500 per maund.
200 bales of Kotri were sold at Rs 16,500 per maund and 200 bales of Tando Adam were sold at Rs 18,500 per maund.
Seed cotton (Phutti) equivalent to over 8.2 million or exactly 82, 58,115 bales has reached ginning factories across the country till January 15 2024.
According to a fortnightly report of the Pakistan Cotton Ginners Association (PCGA) released on Thursday, over 8.2 million or 82,02,690 bales have undergone the ginning process i.e converted into bales.
Cotton arrivals in Punjab were recorded at over 4.1 million or 41,58,606 bales. Sindh generated over four million or 40,99,509 bales.
Textile sector bought 74,78,002 bales while exporters purchased 2,92,126 bales and the Trading Corporation of Pakistan (TCP) didn’t buy during the cotton season 2023-24.
Sanghar district of Sindh topped with a cotton arrival figure of 16,90,360 bales followed by Bahawalnagar district of Punjab with 11,08,797 bales. A total of 165 ginning factories were operational in the country. Exactly 4,87,987 cotton bales of unsold stock were available in ginning factories.
The Spot Rate remained unchanged at Rs 19,000 per maund. Polyester Fiber was available at Rs 362 per kg.
Copyright Business Recorder, 2024
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