KARACHI: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday increased the spot rate by Rs 100 per maund and closed it at Rs 16100 per maund. The Spot Rate Committee of the Karachi Cotton Association on Thursday increased the spot rate by Rs 100 per maund and closed it at Rs 16100 per maund. The polyester fiber was available at Rs 247 per kg.
The local cotton market remained stable but trading volume failed to pick up owing to high rates. Cotton Analyst Naseem Usman told that the rate of cotton in Sindh remained between Rs 13000 to Rs 16,800 per maund and the rate of cotton in Punjab was registered at Rs 14,300 to Rs 16,700 per maund.
The rate of the new crop of Phutti in Sindh was remained between Rs 4500 to Rs 7,200 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 8,000 per 40 kg.
Similarly, prices of cotton in Balochistan were remained at Rs 13,800 to 16,400 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,200 to 8,000 per maund, said Naseem Usman.
The rate of Banola in Sindh was in between Rs 1350 to Rs 2,000 per maund. While in Punjab rates of Banola were in between Rs 1650 to Rs 2,200 per maund.
800 bales of Rahim Yar Khan, 400 bales of Rajan Pur were sold at Rs 16700 per maund, 200 bales of Fort Abbas were sold at Rs 16000 per maund, 200 bales of Marrot were sold at Rs 15900 per maund, 600 bales of Haroonabad were sold in between Rs 15700 to Rs 16000 per maund and 200 bales of Bahwalpur were sold at Rs 15500 per maund.
Copyright Business Recorder, 2021