KARACHI: The price of different qualities of cotton have remained stable in the country as textile mills continued to buy during the week, brokers said on Saturday.
Chairman Cotton Broker Forum and vice chairman FPCCI standing committee of raw cotton, Naseem Usman said another reason for market stability was that its supply was short due to light rain in Punjab.
He said that the spot rates of the Karachi Cotton Association (KCA) closed at Rs 5,800 per maund.
Usman said cotton was traded in the range of Rs 5,800 to Rs 5,850 per maund during the week in Sindh.
Cotton prices ranged between Rs 5,850 to Rs 5,900 pr maund in Punjab.
Naseem pointed out that phutti was selling between Rs 2,600 to 2,650 per for 40 kg in Sindh and Rs 2,600 to Rs 2,700 in Punjab
He said that cotton supply will be improved after Eid holidays.
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