Spot rate depicts no change amid lacklustre activity
LAHORE: The cotton market remained dull on Monday. The trading volume remained low. Cotton Analyst Naseem Usman told that the rate of cotton in Punjab and Sindh is in between Rs 18000 to Rs 21,000 per maund.
He also told that ginning season has partially started as the two ginning factories in Burewala and Tando Adam has started their operations. He also told that two lots of cotton were prepared from new Phutti by both the factories.
The State Bank of Pakistan (SBP) on Monday raised the benchmark policy rate by 150 basis points (bps) to 13.75% for the next six weeks to maintain the balance between inflation and economic growth.
The Spot Rate remained unchanged at Rs 21000 per maund. The rate of Polyester Fibre was increased by Rs 3 and was available at Rs 303 per kg.
Copyright Business Recorder, 2022
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