LAHORE: The local cotton market remained steady on Thursday, with trading volume improving a little bit.
According to Cotton Analyst Naseem Usman, the reason behind low trading volume is the slow arrival of Phutti.
The rate of new cotton in Sindh is in between 19,500 to Rs 20,700 per maund. The rate of cotton in Punjab is in between Rs 21,000 to Rs 21,500 per maund. The rate of new Phutti is in between Rs 9,000 to Rs 10,500 per 40 kg.
Approximately, 2000 bales of new cotton of Sindh were sold from 19,500 to 20,700 per maund. According to the details 200 bales of Sanghar were sold at Rs 20,700 per maund, 200 bales of Hyderabad were sold at Rs 20,500 per maund and 1600 bales of Tando Adam were sold at Rs 20,500 per maund.
The Spot Rate remained unchanged at Rs 19,700 per maund, and Polyester Fiber was available at Rs 367 per kg.
Copyright Business Recorder, 2024
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