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KARACHI: The Spot Rate Committee of the Karachi Cotton Association on Monday decreased the spot rate by Rs 100 per maund and closed it at Rs 12900 per maund.

Whereas, trading volume was satisfactory at the local cotton market.

Cotton Analyst Naseem Usman told Business Recorder the rate of cotton in Sindh is in between Rs 12850 Rs 13000 per maund. The rate of cotton in Punjab is in between Rs 13400 to Rs 13500 per maund.

The rate of the new crop of Phutti in Sindh was in between Rs 5000 to Rs 5500 per 40 kg. The rate of Phutti in Punjab is in between Rs 5000 to Rs 5800 per 40 kg. The rate of Banola in Sindh is in between Rs 1500 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1700 to Rs 1800 per maund. The rate of cotton in Balochistan is Rs 12850-12900 per maund. The rate of Phutti in Balochistan is in between Rs 5400 to RS 5500 per maund.

800 bales of Hyderabad were sold at Rs 12850 to Rs 12900 per maund, 100 bales of Kotri were sold in between Rs 12850 to Rs 13000 per maund, 800 bales of Mir Pur Khas were sold at Rs 12900 per maund, 1800 bales of Sanghar, 2800 bales of Tando Adam were sold at Rs 12850 to Rs 12950 per maund, 1600 bales of Shahdadpur were sold at Rs 12900 to Rs 13000 per maund, 400 bales of Hasil Pur, 200 bales of Haroonabad were sold at Rs 13450 per maund, 400 bales of Kabir Wala were sold at Rs 13400 per maund, 1000 bales of Mian Channu, 200 bales of Samundri were sold at Rs 13500 per maund, 200 bales of Mungi Bangla were sold in between Rs 13550 to Rs 13575 per maund.

Naseem Usman told that the cotton growers and ginners showed their reservation on the MoU of All Pakistan Textile Mills Association with Uzbekistan in which Uzbekistan will provide thirty thousand hectares of land to APTMA for the construction of trade complex and for growing cotton. Growers and ginners said that APTMA has not evolved a positive policy for increasing the production of cotton in the country while they are planning to grow cotton in Uzbekistan. Now the question arises if the APTMA will establish textile mills there and export textile products then can we say that these are the exports of Pakistan? Now some people raised questions that have the area decreased in Pakistan that they are getting land in Uzbekistan for growing cotton and establishing factories.

The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 100 per maund and closed it at Rs 12900 per maund. The rate of Polyester Fiber was increased by Rs 4 per kg and was available at Rs 220 per kg.

Copyright Business Recorder, 2021

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