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Markets

Spot rate gains further Rs500 amid strong buying

  • Karachi Cotton Association closes rate at Rs18,000 per maund
Published August 13, 2022
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LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Friday increased the spot rate by Rs 500 per maund and closed it at Rs 18,000 per maund.

The local cotton market remained bullish and trading volume was satisfactory.

Cotton Analyst Naseem Usman told that the reason behind low trading volume was rains in the cotton belt of the country.

He also said that the rate of cotton in Sindh is between Rs18,000 to Rs18,500 per maund. The rate of cotton in Punjab is in between Rs19,000 to Rs19,300 per maund.

The rate of Phutti in Sindh is in between Rs 6,200 to Rs 7,500 per 40 kg. The rate of Phutti in Punjab is in between Rs 7,000 to Rs 10,200 per 40 kg. The rate of cotton in Balochistan is in between Rs 17,000 to Rs 17,500 per maund.

200 bales of Mahrab Pur, 600 bales of Nawab Shah were sold at Rs 19,000 per maund, 18,00 bales of Shahdad Pur were sold at Rs 17,500 to Rs 18,000 per maund, 600 bales of Mir Pur Khas were sold at Rs 16,500 to Rs 17,000 per maund, 2200 bales of Sanghar were sold at Rs 17,000 to Rs 18,000 per maund, 2400 bales of Tando Adam were sold at Rs 17,000 to Rs 18,000 per maund, 1000 bales of Shahpur Chakar were sold at Rs 17,500 to Rs 18,000 per maund, 400 bales of Golarchi were sold at Rs 16,500 to Rs 17,000 per maund, 600 bales of Khadro were sold at Rs 17,800 to Rs 18,000 per maund, 1200 bales of Kotri were sold at Rs 17,800 to Rs 18,000 per maund, 600 bales of Hyderabad were sold at Rs 16,500 to Rs 17,800 per maund, 400 bales of Ghupchani were sold at Rs 17,800 per maund, 200 bales of Lodhran, 200 bales of Muhammad Pur Deewan were sold at Rs 19,000 per maund, 800 bales of Khanewal were sold at Rs 18,000 to Rs 19,000 per maund, 1200 bales of Chichawatni, 1600 bales of Vehari were sold at Rs 18,500 to Rs 19,000 per maund, 400 bales of Peer Mahal were sold at Rs 18,500 per maund, 1200 bales of Burewala were sold at Rs 18,500 per maund, 400 bales of Mian Channu, 400 bales of Haroonabad, 400 bales of Shujabad were sold at Rs 18,500 per maund, 200 bales of Hasil Pur were sold at Rs 18,300 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Friday increased the spot rate by Rs 500 per maund and closed it at Rs 18,000 per maund. The Polyester Fiber was available at Rs 325 per kg.

Copyright Business Recorder, 2022

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