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Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,737
924hr
Pakistan Cases
1,285,254
41424hr
0.98% positivity
Sindh
475,820
Punjab
443,185
Balochistan
33,484
Islamabad
107,722
KPK
180,075

KARACHI: The Spot Rate Committee of the Karachi Cotton Association on Saturday increased the spot rate by RS 400 per maund and closed it at Rs 13200 per maund.

The local cotton market on Saturday remained bullish and trading volume remained a little bit low.

The Spot Rate Committee of the Karachi Cotton Association on Saturday increased the spot rate by RS 400 per maund and closed it at Rs 13200 per maund. The Polyester Fiber was available at Rs 222 per Kg.

Cotton Analyst Naseem Usman told Business Recorder that due to rains in the cotton areas of Sindh and Punjab may effect the quality of Phutti.

International Atomic Energy Agency has appreciated Pakistan for using atomic energy for peaceful purposes especially for growing cotton.

The rate of cotton in Sindh is in between Rs 12000 to Rs 13500 per maund and the rate of cotton in Punjab is in between Rs 13200 to Rs 13700 per maund.

The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 5700 per 40 kg. The rate of Phutti in Punjab is in between Rs 5400 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 1750 to Rs 1800 per maund. The rate of cotton in Balochistan is in between Rs 13300- 13500 per maund. The rate of Phutti in Balochistan is Rs 6100- 6700 per maund.

3000 bales of Khair Pur were sold in between Rs 13000 to Rs 13200 per maund, 1200 bales of Rohi were sold at Rs 13000 to Rs 13350 per maund, 1000 bales of Saleh Pat were sold at Rs 13200 to Rs 13400 per maund, 400 bales of Pano Aqil, 200 bales of Mir Pur Mathelo, 600 bales of Ghotki, 400 bales of Sarhad, 400 bales of Dherki were sold at Rs 13500 per maund, 1000 bales of Sanghar were sold at Rs 11800 to Rs 12200 per maund,400 bales of Kotri were sold at Rs 12400 per maund, 800 bales of Shahdad Pur were sold at Rs 12000 to Rs 12600 per maund, 800 bales of Khan Pur were sold at Rs 13300 to Rs 13500 per maund, 400 bales of Rajan Pur were sold at Rs 13500 per maund, 400 bales of Rahim Yar Khan were sold at Rs 13300 per maund, 400 bales of Faqeer Wali, 600 bales of Samundri were sold at Rs 13200 per maund, 600 bales of Dera Ghazi Khan, 800 bales of Khanewal, 2400 bales of Layyah, 600 bales of Yazman Mandi were sold at Rs 13000 per maund

ICE cotton futures rose as much as 4% on Friday to their highest level in more than a month, supported by robust demand and technical buying, with speculators getting back into the market after a sharp fall earlier this week.

Total futures market volume rose by 21,404 to 49,430 lots. Data showed total open interest gained 503 to 263,288 contracts in the previous session.

Certificated cotton stocks deliverable as of Sept. 22 totalled 60,107 480-lb bales, down from 60,976 in the previous session.

Copyright Business Recorder, 2021

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