Cotton market: week begins on positive note

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

Cotton Analyst Naseem Usman told Business Recorder that the rate of new crop of cotton in Sindh is in between Rs 17,000 to Rs 17,300 per maund. The rate of Phutti in Sindh is in between Rs 7,000 to Rs 7,400 per 40 kg.

The rate of cotton in Punjab is in between Rs 17,500 to Rs 17,600 per maund and the rate of Phutti is in between Rs 7,000 to Rs 8,300 per 40 kg. The rate of cotton in Balochistan is Rs 17,000 to Rs 17,200 per maund while the rate of Phutti is in between Rs 7,200 to Rs 7,500 per 40 kg.

Around, 3600 bales of Tando Adam were sold at Rs 17,000 to Rs 17,200 per maund, 1600 bales of Shahdad Pur were sold at Rs 17,000 to Rs 17,200 per maund, 1400 bales of Sanghar were sold at Rs 17,000 to Rs 17,200 per maund, 600 bales of Mir Pur Khas were sold at Rs 7,000 per maund, 400 bales of Hyderabad were sold at Rs 17,100 per maund, 800 bales of Kotri were sold at Rs 17,000 to Rs 17,250 per maund, 200 bales of Maqsooda Rind, 200 bales of Shah Pur Chakar, 400 bales of Khadro, 200 bales of Hala were sold at Rs 17,000 per maund, 800 bales of Hasil Pur were sold at Rs 17,400 to Rs 17,500 per maund, 1600 bales of Chichawatni were sold at Rs 17,600 per maund, 1400 bales of Vehari were sold at Rs 17,400 to Rs 17,450 per maund, 800 bales of Burewala were sold at Rs 17,400 per maund, 200 bales of Taunsa Shareef, 200 bales of Rajan Pur, 200 bales of Dera Ghazi Khan, 400 bales of Peer Mahal, 200 bales of Samundri, 400 bales of Lodhran were sold at Rs 17,500 per maund, 1,000 bales of Khanewal were sold at Rs 17,500 to Rs 17,600 per maund and 200 bales of Haroonabad were sold at Rs 17,500 per maund.

The Spot Rate remained unchanged at Rs 17,000 per maund. Polyester Fiber was available at Rs 350 per kg.

Copyright Business Recorder, 2023