Slow business activity on cotton market

LAHORE: The local cotton market on Monday remained steady and the trading volume remained steady.

Cotton Analyst Naseem Usman told Business Recorder that the trading of new crop of cotton 2023- 24 has started. 2400 bales of new crop of cotton from Tando Adam, Sanghar and Hyderabad were sold at Rs 20,300 to Rs 20,500 per maund. The rate of new Phutti is in between Rs 9,400 to Rs 9,800 per 40 kg.

He also told 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 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.

200 bales of Mir Pur Mathelo were sold at Rs 21,500 per maund (condition).

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 Fibre was available at Rs 365 per kg.

Copyright Business Recorder, 2023