KARACHI: The Spot Rate Committee of the Karachi Cotton Association on Tuesday increased the spot rate by Rs 300 per maund and closed it at Rs 16600 per maund.
Cotton Analyst Naseem Usman told that market remained bullish and the trading volume remained satisfactory. He also told that rate of quality cotton rate reached at the highest level of Rs 17,700 per maund while the rate of Phutti reached at Rs 8,800 per 40 kg.
He said the rate of cotton in Sindh remained between Rs 14,500 to Rs 17,700 per maund and the rate of cotton in Punjab was registered at Rs 16,000 to Rs 17,400 per maund. The rate of the new crop of Phutti in Sindh was remained between Rs 4,800 to Rs 7,700 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 7,800 per 40 kg.
Similarly, prices of cotton in Balochistan were remained at Rs 14,500 to 16,500 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,300 to 8,800 per maund, said Naseem Usman.
The rate of Banola in Sindh was in between Rs 1,550 to Rs 2,200 per maund. While in Punjab rates of Banola were in between Rs 1,600 to Rs 2,200 per maund.
As many as 600 bales of Dherki were sold at Rs 17,300 per maund, 400 bales of Mir Pur Mathelo, 600 bales of Khan Pur Mehar, 400 bales of Ghotki were sold at Rs 16,875 per maund, 200 bales of Sarhad were sold at Rs 16,500 per maund, 200 bales of Rohri, 2000 bales of Saleh Pat were sold at Rs 16,000 per maund, 400 bales of Bagho Bahar were sold at Rs 17,200 per maund, 1200 bales of Rahim Yar Khan were sold at Rs 16,500 to Rs 17200 per maund, 400 bales of Kot Sabzal were sold at Rs 17,000 per maund, 1200 bales of Mianwali were sold at Rs 16,800 to Rs 17,000 per maund, 200 bales of Marrot, 200 bales of Yazman Mandi, 1200 bales of Faqeer Wali, 800 bales of Haroonabad, 400 bales of Liaquat Pur were sold at Rs 16,000 per maund, 2000 bales of Fort Abbas were sold at Rs 16,000 to Rs 16,100 per maund, 400 bales of Hasil Pur were sold at Rs 15,600 per maund, 200 bales of Jahanian were sold at Rs 14,200 per maund.
The Spot Rate Committee of the Karachi Cotton Association on Tuesday increased the spot rate by Rs 300 per maund and closed it at Rs 16,600 per maund. The Polyester Fiber was available at Rs 250 per kg.
Copyright Business Recorder, 2021