LAHORE: In recent developments, the Spot Rate Committee of the Karachi Cotton Association (KCA) made a significant adjustment, raising the spot rate by Rs 300 per maund, bringing it to Rs 20,000 per maund.
Analysts noted a robust performance in the local cotton market, with trading volume maintaining stability. According to Cotton Analyst Naseem Usman, the price range of cotton in Sindh hovered between Rs 18,500 to Rs 21,000 per maund, while in Punjab, it varied from Rs 19,000 to Rs 21,000 per maund. Fluctuations were also observed in Phutti prices, ranging from Rs 8,000 to Rs 9,300 per 40 kg, and in cotton prices from Balochistan, documented at Rs 17,500 to Rs 18,000 per maund.
Furthermore, notable transactions included the sale of 800 bales of Ali Pur, 400 bales of Ouch Shareef, 400 bales of Yazman Mandi at Rs 21,000 per maund, and 400 bales of Shujabad at Rs 20,250 per maund.
The Spot Rate Committee’s decision to increase the spot rate underscores ongoing market dynamics, with Polyester Fiber concurrently available at Rs 365 per kg.
Copyright Business Recorder, 2024
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