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KARACHI: The local cotton market on Saturday remained stable and trading volume remained good. The Spot Rate remained unchanged at Rs 14600 per maund. The Polyester Fiber was available at Rs 225 per kg.

The rate of cotton in Sindh is in between Rs 12000 to Rs 14700 per maund and the rate of cotton in Punjab is in between Rs 14400 to Rs 15000 per maund.

The rate of the new crop of Phutti in Sindh was in between Rs 5000 to Rs 6200 per 40 kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 6400 per 40 kg. The rate of Banola in Sindh is in between Rs 1600 to Rs 1900 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 2000 per maund. The rate of cotton in Balochistan is in between Rs 14200- 14100 per maund. The rate of Phutti in Balochistan is Rs 5800- 7200 per maund.

3000 bales of Khair Pur were sold at Rs 14200 to Rs 14500 per maund, 1200 bales of Shahdad Pur were sold at Rs 12400 to Rs 14100 per maund, 1800 bales of Dherki were sold at Rs 14600 to Rs 1500 per maund, 1200 bales of Ghotki were sold at Rs 14600 to Rs 15000 per maund, 400 bales of Khan Pur, 400 bales of Mir Pur Mathelo, 400 bales of Pano Aqil, 1400 bales of Sadiqabad, 1000 bales of Khan Pur, 600 bales of Bago Bahar, 2000 bales of Liaquat Pur were sold at Rs 15000 per maund, 400 bales of Saleh Pat were sold at Rs 14200 per maund, 800 bales of Sarhad were sold at Rs 13400 per maund, 200 bales of Maqsooda Rind were sold at Rs 14200 per maund, 1000 bales of Rahim Yar Khan were sold at Rs 14800 to Rs 15000 per maund, 800 bales of Mian Wali were sold at Rs 14700 to Rs 15000 per maund, 600 bales of Jalal Pur were sold at Rs 14900 per maund, 400 bales of Haroonabad, 400 bales of Shujaabad were sold at Rs 14800 per maund, 400 bales of Lodhran were sold at Rs 14700 per maund, 800 bales of Yazman Mandi were sold at Rs 14600 to Rs 14800 per maund, 200 bales of Burewala and 400 bales of Hasil Pur were sold at Rs 14300 per maund.

Cotton Analyst Naseem Usman told Business Recorder that textile exports in September 2021 reached the highest mark of $1.503 billion. He also told that textile exports in first quarter recorded an appreciable jump of 28%.

During July to September 2021 textile exports rose to $4.437 bln. During July to September 2020 textile exports was around $3.479 billion. Apparel & clothing, knitted or crocheted exports up by 32% to $390 million in Q1.

Articles of apparel and clothing accessories, not knitted or crocheted up 24% to $278 million. Other made up textile articles, worth cloth up by 17% to $481 million in Q1. Cotton exports up by 31% to $291 million in first quarter of FY22.

ICE cotton futures steadied after rising over 4% earlier on Friday as a US monthly jobs data miss raised demand concerns for the natural fibre, although prices were still on course for a weekly gain.

The cotton contract for December was last down 0.16 cent, or 0.1%, at 111.45 cents per lb, at 13:19 p.m. EDT (1719 GMT), earlier rising to a fresh contract-high of 116.48 cents per lb.

Copyright Business Recorder, 2021

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