LAHORE: The Spot Rate remained unchanged. The local cotton market on Monday remained steady and the trading volume remained very low. Cotton analyst Nasseem Usman while talking to Business Recorder said that price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 8000. Cotton of Sindh was traded from Rs 15000 to Rs 19000 per maund, Punjab’s cotton was traded from Rs 16000 to Rs 18500 per maund.
He told that the rate of quality cotton in the local cotton market reached an all-time high of Rs 20,000 per maund after increasing by Rs 1000 per maund.
Cotton analyst Naseem Usman told that Pakistan Cotton Ginners Association in its general body meeting rejected the mini-budget. Chairman Sohail Mahmood Harl said that imposition of 17 percent GST on cotton seed oil, cotton seed cake and cotton seed had a bad impact on ginning industry.
The Spot Rate remained unchanged at Rs 18600 per maund. The price of Polyester Fiber was increased by Rs 5 per Kg and was available at Rs 257 per kg.
Copyright Business Recorder, 2022
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