Cotton market: Buyers conspicuous by their absence due to high prices

LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday increased the spot rate by Rs 1,000 per maund and was available at Rs 21,000 per maund.

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

Cotton Analyst Naseem Usman told that the rate of cotton in Sindh is in between Rs 19,500 to Rs 20,500 per maund. The rate of cotton in Punjab is in between Rs 22,500 to Rs 23,000 per maund.

The rate of Phutti in Sindh is in between Rs 7,000 to Rs 8,500 per 40 kg. The rate of Phutti in Punjab is in between Rs 8,000 to Rs 12,000 per 40 kg. The rate of cotton in Balochistan is in between Rs 18,000 to Rs 18,500 per maund. 200 bales of Shahdad Pur were sold at Rs 19,200 per maund, 800 bales of Haroonabad were sold at Rs 22,000 per maund, 200 bales of Marrot were sold at Rs 22,500 per maund, 200 bales of Vehari were sold at Rs 22,000 to Rs 22,500 per maund and 400 bales of Khanewal were sold at Rs 22,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday increased the spot rate by Rs 1,000 per maund and was available at Rs 21,000 per maund. The Polyester Fiber was available at Rs 300 per kg.

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