Cotton spot rate stable

LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Friday kept the spot rate unchanged at Rs 17,000.

The local cotton market remained bearish and the trading volume, however, remained satisfactory.

Cotton analyst Naseem Usman stated this while talking to Business Recorder and added that rate of cotton in Sindh was recorded at Rs 15,500 per maund to Rs 18,000 per maund while cotton from Punjab recorded its rate at Rs 16,000 per maund to Rs 18,500 per maund.

While Phutti rates were recorded at Rs 5,500 per maund to Rs 8,000 per maund in Sindh but the rates in Punjab of Phutti were recorded at Rs 6,500 per maund to Rs 9,000 per maund.

According to the domestic transactions break-up, 400 bales were transacted from Dehrki at the rate of Rs 17000 per maund, 1000 bales from Saleh Pat 15,700 to 16,200 per maund, 1200 bales from Khair Pur 15,200 to 15,500 per maund, 400 bales form Rani Pur at the rate of 15, 500 per maund, 600 bales from Rohri transacted at Rs 15,000 to 15,500 per maund, 2600 bales from Mian Wali at the rate of 17,500 to 18,500 per maund, 200 bales of Kot Sabzal at 18,000 per maund, 3000 bales from Fort Abbas at the rate of Rs 17,500-18,500 per maund, 400 bales from Khanewal at Rs 17,700 per maund, 200 bales from Ali pur at Rs 18,500 per maund, 200 bales each from Sadiqabad and Rahim Yar Khan at Rs 17,500 per maund and 1000 bales from Marrot at Rs 17,500 per maund.

Similarly, 600 bales from Chichawatni were transacted at Rs 16,000 to 16,500 per maund, 600 bales from Fazil Pur at Rs 16,000 per maund, 600 bales from Chishtian 16,300 to 17,000 per maund and 200 bales each from Hasilpur and Vehari at Rs 16,000 per maund.

Copyright Business Recorder, 2022