Cotton market: Spot rate continues upward march amid modest trading

LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Saturday increased the spot rate by Rs 2,00 per maund and closed it at Rs 20,500 per maund.

The local cotton market remained bullish and the trading volume remained satisfactory. Cotton Analyst Naseem Usman told Business Recorder told that the rate of new crop of cotton in Sindh is in between Rs 20,500 to Rs 20,800 per maund.

The rate of Phutti in Sindh is in between Rs 9,200 to Rs 10,200 per 40 kg. The rate of cotton in Punjab is in between Rs 21,000 to Rs 21,300 per maund and the rate of Phutti is in between Rs 10,400 to Rs 10,500 per 40 kg.

Around, 2200 bales of Tando Adam were sold at Rs 20,500 to Rs 20,800 per maund, 200 bales of Hyderabad were sold at Rs 21,000 per maund, 400 bales of Burewala, 400 bales of Khanewal were sold at Rs 21,300 per maund and 1000 bales of Deharki were sold at Rs 21,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Saturday increased the spot rate by Rs 2,00 per maund and closed it at Rs 20,500 per maund. Polyester Fiber was available at Rs 355 per Kg.

Copyright Business Recorder, 2023