LAHORE: Dullness prevails in the local cotton market on Monday while the trading volume low.
Cotton Analyst Naseem Usman told Business Recorder that Spot Rate remained unchanged. He also told that it was for the first time in Pakistani history that advanced trading of cotton started three months before the arrival of the season. He further told that farmers are happy that they are getting a good price adding that the cultivation area of cotton will also be increased.
The Spot Rate remained unchanged at Rs 20,000 per maund. The rate of Polyester Fiber was increased by Rs 5 per kg and was available at Rs 285 per kg.
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