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KARACHI: The Karachi Cotton Association (KCA) on Wednesday kept the spot rate unchanged as cotton was traded at Rs 16,700 per maund and the market witnessed a steady trading with low volume.

Cotton Analyst Naseem Usman told Business Recorder today that rate of Phutti, Cotton and Banola also remained same today as Phutti of Sindh was traded from Rs 4500-7300 per 40 kilograms; Punjab’s Phutti attracted per 40 kilograms prices from Rs 5500 to Rs 7800.

Similarly, Phutti from Balochistan was traded at Rs 6500 per 40 kilograms to Rs 7800 per 40 kilograms.

Cotton of Sindh was traded from Rs 13,500 to Rs 16,800 per maund, Punjab’s cotton was traded from Rs 14,500 to Rs 16,500 per maund and Balochistan’s cotton prices remained from Rs 16,000 per maund to Rs 16,500 per maund.

While Banola from Punjab was traded from Rs 1,350 to Rs 2,300 per maund, Punjab’s crop was traded from Rs 1,800 to Rs 2,300 per maund and Balochistan’s Banola was traded from Rs 1,700 to Rs 2,300 per maund, added Naseem Usman.

As per the daily market report, domestic transactions witnessed sale of 1000 bales from Khairpur at the rate of Rs 15,200 to Rs 16,400 per maund, 400 bales of Sanghar were traded at Rs 16,300 per maund and 700 bales of Shahdadpur were traded at Rs 17,000 per maund.

Copyright Business Recorder, 2021

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