KARACHI: Business activity remained stable on local cotton market on Thursday. Market sources told that quality of Phutti was affected due to the monsoon rains. Picking may also be affected due to rains. Sources also told that after the country witnessed a record inflow of remittances from overseas Pakistanis, the textile sector shared encouraging news for the economy marking double digit growth in exports to over $1 billion in July.
Naseem Usman told that 400 bales of Kotri were sold at Rs 8250, 800 bales of Samundri were sold in between Rs 8250 to Rs 8300, 800 bales of Shahdadpur, 2000 bales of Tando Adam were sold at Rs 8250 to Rs 8300, 200 bales of Matiari were sold at Rs 8300, 200 bales of Shujabad were sold at Rs 8650, 200 bales of Gojra, 400 bales of Haroonabad were sold at Rs 8650, 600 bales of Chichawatni were sold in between Rs 8650 to Rs 8675, 800 bales of Burewala were sold in between Rs 8650 to Rs 8700, 400 bales of Vehari were sold at Rs 8675.
He also told that rate of cotton in Sindh was in between Rs 8200 to Rs 8300.The rate of cotton in Punjab is in between Rs 8600 to Rs 8700. He also told that Phutti of Sindh was sold in between Rs 3400 to Rs 3600 per 40 kg. The rate of Phutti in Punjab is in between Rs 3700 to Rs 4000 per 40 kg.
The rate of Banola in Sindh was in between Rs 1500 to Rs 1550 while the price of Banola in Punjab was in between Rs 1650 to Rs 1750. The Spot Rate remained unchanged at Rs 8400 per maund. The polyester fiber was available at Rs 153 per kg.
Copyright Business Recorder, 2020
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