KARACHI: The Spot rate on Thursday remained unchanged at Rs 17300 per maund during the modest trading activity on the cotton market. The Spot Rate remained unchanged at Rs 17300 per maund. The Polyester Fiber was available at Rs 250 per kg.
Cotton Analyst Naseem Usman told that market remained bullish and the trading volume remained satisfactory. He also told that that rate of quality cotton rate reached at the highest level of Rs 18000 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 600 bales of Dherki, 800 bales of Khan Pur Mehar were sold at Rs 18000 per maund, 200 bales of Sarhad, 800 bales of Ghotki, 400 bales of Mir Pur Mathelo, 400 bales of Lodhran were sold at Rs 17500 per maund, 400 bales of Rohri, 200 bales of Mian Wali were sold at Rs 17200 per maund, 100 bales of Saleh Pat were sold at Rs 16500 per maund, 1800 bales of Rahim Yar Khan were sold at Rs 17200 to Rs 18000 per maund, 400 bales of Yazman Mandi were sold at Rs 16400 per maund.
Seed cotton (Phutti) equivalent to over 6.8 million or exactly 68,52,823 bales have reached ginning factories across the country till November 15, 2021 registering increase of 70.16 percent as compared to corresponding period of last year.
According to a fortnightly report of Pakistan Cotton Ginners Association (PCGA) released on Thursday, over 6.5 million or 65,06,184 bales have undergone the ginning process i.e converted into bales. Cotton arrivals in Punjab were recorded at over 3.4 million or 34,13,601 bales registering a surplus of 58.65 percent as compared to corresponding period of last year when arrivals were recorded 21,51,648 bales.
Sindh generated over 3.4 million or 34,39,163 bales registering an increase of 83.35 pc as compared to corresponding period of last year when arrivals were recorded 18,75,728 bales.
Textile mills bought 62,29,859 bales while exporters purchased 16, 400 bales and Trading Corporation of Pakistan (TCP) didn’t buy during the cotton season 2021-22.
Sanghar district of Sindh topped with cotton arrival figure of 13,11,250 bales followed by Bahawalnagar district of Punjab with 8,82,100 bales. Total 444 ginning factories were operational in the country. Exactly 6,06,564 cotton bales unsold stock was available in ginning factories.
Copyright Business Recorder, 2021