Spot rate remains steady on cotton market
LAHORE: The local cotton market on Saturday remained steady and the trading volume remained low.
Cotton Analyst Naseem Usman told Business Recorder that it is expected that trading volume will improve from coming week. It is expected that big textile groups will show their interest in buying in order to increase its stock because of the forecast of rains in June and July.
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 18,000 to Rs 21,000 per maund. The rate of Phutti in Sindh is between Rs 5,500 to Rs 8,300 per 40 kg. The rate of Phutti in Punjab is in between Rs 6,000 to Rs 8,500 per 40 kg.
The Spot Rate remained unchanged at Rs 20,000 per maund. Polyester Fiber was available at Rs 375 per kg.
Copyright Business Recorder, 2023
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