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

The local cotton market remained steady and the trading volume remained low. Cotton Analyst Naseem Usman said that according to report of Pakistan Cotton Ginners Association (PCGA) 15 lac thirty nine thousand bales were produced till August 31 which is two lac fifty one thousand bales less as compared to last year during this period.

He also informed that the rate of cotton in Sindh is in between Rs 17,000 to Rs 20,000 per maund. The rate of cotton in Punjab is in between Rs 21,500 to Rs 23,000 per maund.

The rate of Phutti in Sindh is between Rs 6,000 to Rs 8,000 per 40 kg. The rate of Phutti in Punjab is in between Rs 8,000 to Rs 11,000 per 40 kg. The rate of cotton in Balochistan is in between Rs 17,000 to Rs 18,000 per maund.

200 bales of Kumb were sold at Rs 18,000 per maund, 200 bales of Sanghar were sold at Rs 17,500 per maund, 400 bales of Tando Adam, 400 bales of Shahdad Pur were sold at Rs 17,000 to Rs 18,000 per maund, 200 bales of Marrot were sold at Rs 23,000 per maund, 1200 bales of Haroonabad were sold at Rs 21,500 to Rs 22,500 per maund and 800 bales of Yazman Mandi were sold at Rs 22,000 to Rs 22,500 per maund.

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

Copyright Business Recorder, 2022

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