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KARACHI: The local cotton market on Tuesday remained bullish and trading volume remained satisfactory. The Spot Rate remained unchanged at Rs 13900 per maund. The Polyester Fiber was available at Rs 225 per kg.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 12000 to Rs 14300 per maund and the rate of cotton in Punjab is in between Rs 13800 to Rs 14300 per maund.

The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6000 per 40 kg. The rate of Phutti in Punjab is in between Rs 5000 to Rs 6200 per 40 kg. The rate of Banola in Sindh is in between Rs 1450 to Rs 1800 per maund. The rate of Banola in Punjab is in between Rs 1500 to Rs 1900 per maund. The rate of cotton in Balochistan is in between Rs 13500- 14300 per maund. The rate of Phutti in Balochistan is Rs 5800-7000 per maund.

200 bales of Moro were sold at Rs 13600 per maund, 200 bales of Khan Pur were sold at Rs 13700 per maund, 1200 bales of Rohri were sold at Rs 13700 to Rs 13800 per maund, 1200 bales of Saleh Pat were sold at Rs 13700 to Rs 13900 per maund, 600 bales of Sarhad , 800 bales of Khan Pur Mehar, 600 bales of Pano Aqil, 1200 bales of Ghotki were sold at Rs 14100 to Rs 14200 per maund, 1600 bales of Dharki were sold at Rs 14200 per maund, 200 bales of Karor Lal Ahsan were sold at Rs 135550 per maund, 600 bales of Noor Pur were sold at Rs 13700 per maund, 400 bales of BahawalPur were sold at Rs 13800 per maund, 800 bales of Shujabad were sold at Rs 13800 to Rs 13850 per maund, 400 bales of Layyah, 800 bales of Faqeer Wali were sold at Rs 13800 to Rs 14000 per maund, 400 bales of Yazman Mandi, 400 bales of Haroonabad were sold at Rs 14000 per maund, 2800 bales of Rahim Yar Khan were sold at Rs 14100 to Rs 14200 per maund, 200 bales of Ahmed Pur were sold at Rs 14300 per maund.

ICE cotton futures rose on Monday to hover near a 10-year high they hit last week, supported by a weaker dollar and strong demand for the natural fibre.

The cotton contract for December was up 0.72 cent, or 0.69%, at 105.25 cents per lb by 12:29 p.m. EST (1629 GMT). Total futures market volume fell by 29,400 to 19,032 lots. Data showed total open interest fell 1,763 to 290,201 contracts in the previous session.

Copyright Business Recorder, 2021

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