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KARACHI: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday increased the spot rate by Rs 700 per maund and closed it at Rs 17300 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 700 per maund and closed it at Rs 17300 per maund. Polyester Fiber was available at Rs 250 per kg.

Cotton Analyst Naseem Usman told that market remained bullish and the trading volume remained a little bit low. He also told that that rate of quality cotton rate reached at the highest level of Rs 17700 per maund while the rate of Phutti reached at Rs 8800 per 40 kg. He said rate of cotton in Sindh remained between Rs 14500 to Rs 18000 per maund and the rate of cotton in Punjab was registered at Rs 16400 to Rs 18000 per maund. The rate of the new crop of Phutti in Sindh was remained between Rs 5500 to Rs 7,900 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 8400 per 40 kg.

Similarly, prices of cotton in Balochistan were remained at Rs 14500 to 16,500 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,300 to 8800 per maund, said Naseem Usman.

The rate of Banola in Sindh was in between Rs 1,350 to Rs 2200 per maund. While in Punjab rates of Banola were in between Rs 1,650 to Rs 2,200 per maund.

As many as 3000 bales of Dherki were sold at Rs 17500 to Rs 18000 per maund, 800 bales of Mir Pur Mathelo, 400 bales of Pano Aqil were sold at Rs 18000 per maund, 400 bales of Saleh Pat were sold at Rs 16000 per maund, 1400 bales of Bhan Saeeda Bad were sold at Rs 15750 to Rs 15900 per maund, 400 bales of Dadu were sold at Rs 15900 per maund, 8200 bales of Rahim Yar Khan were sold at Rs 17250 to Rs 18000 per maund, 1200 bales of Khanewal were sold at Rs 18000 per maund, 1000 bales of Lodhran were sold at Rs 17500 per maund, 1000 bales of Khan Pur were sold at Rs 17500 per maund and 200 bales of Fort Abbas were sold at Rs 16300 per maund.

Copyright Business Recorder, 2021

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