Modest business on cotton market

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

Cotton Analyst Naseem Usman told Business Recorder that the cotton market is generally quiet amid lean Phutti arrivals after the recent rain spell. The buyer is conscious about heavy moisture in cotton and remains on the sideline waiting for the quality to get better. The matter of pending deliveries, in huge numbers, is a matter of concern for buyer and seller.

He also told that the rate of new crop of cotton in Sindh is in between Rs 17,500 to Rs 17,900 per maund. The rate of Phutti in Sindh is in between Rs 6,500 to Rs 7,300 per 40 kg. The rate of cotton in Punjab is in between Rs 18,100 to Rs 18,300 per maund and the rate of Phutti is in between Rs 7,000 to Rs 8,500 per 40 kg. The rate of cotton in Balochistan is Rs 17,800 to Rs 17,900 per maund while the rate of Phutti is in between Rs 7,000 to Rs 7,500 per 40 Kg.

Around, 1400 bales of Tando Adam were sold in between Rs 17,400 to Rs 17,800 per maund, 1200 bales of Shahdad Pur were sold in between Rs 17,700 to Rs 17,800 per maund, 1000 bales of Sanghar were sold at Rs 17,400 to Rs 17,800 per maund, 200 bales of Maqsooda Rind, 200 bales of Badin, 400 bales of Khadro were sold at Rs 17,800 per maund, 400 bales of Daur, 400 bales of Kotri were sold at Rs 17,700 per maund, 400 bales of Khanewal were sold at Rs 18,300 per maund, 600 bales of Lodhran were sold at Rs 18,100 to Rs 18,300 per maund, 200 bales of Hasil Pur were sold at Rs 18,100 per maund and 200 bales of Mureed Wala were sold at Rs 18,100 per maund.

The Spot Rate remained unchanged at Rs 17,935 per maund. Polyester Fiber was available at Rs 350 per kg.

Copyright Business Recorder, 2023