Spot rate unchanged amid thin business

LAHORE: The local cotton market on Wednesday remained bearish and the trading volume was low. Cotton Analyst Naseem Usman told Business Recorder told that the rate of new crop of cotton in Sindh is in between Rs 19,800 to Rs 20,000 per maund. The rate of Phutti in Sindh is in between Rs 8,800 to Rs 9,500 per 40 kg. The rate of cotton in Punjab is in between Rs 21,200 to Rs 21,500 per maund and the rate of Phutti is in between Rs 9,200 to Rs 10,200 per 40 kg.

Approximately, 2800 bales of Tando Adam were sold at Rs 20,000 to Rs 20,400 per maund, 800 bales of Shahdad Pur were sold at Rs 20,100 to Rs 20,325 per maund, 1200 bales of Sanghar were sold at Rs 20,000 per maund, 600 bales of Burewala were sold at Rs 20,600 to Rs 20,900 per maund, 200 bales of Chichawatni were sold at Rs 20,500 per maund, 200 bales of Khanewal were sold at Rs 20,700 per maund and 200 bales of Sakran were sold at Rs 20,100 per maund.

The Spot Rate remained unchanged at Rs 20,500 per maund. Polyester Fiber was available at Rs 355 per kg.

Copyright Business Recorder, 2023