LAHORE: The local cotton market on Saturday remained 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 18,100 to Rs 18,300 per maund. The rate of Phutti in Sindh is in between Rs 7,200 to Rs 8,200 per 40 kg. The rate of cotton in Punjab is in between Rs 18,300 to Rs 18,700 per maund and the rate of Phutti is in between Rs 7,200 to Rs 8,500 per 40 kg. The rate of cotton in Balochistan is Rs 18,100 to Rs 18,300 per maund while the rate of Phutti is in between Rs 7,400 to Rs 8,400 per 40 kg.
Cotton arrival in Pakistan witnessed a significant increase of 48% on August 15 compared to August 1, as per the latest fortnightly data released by the Pakistan Cotton Ginner’s Association (PCGA) on Friday.
Total cotton arrival in Pakistan rose to 2.12 million bales as of August 15 compared to 1.43 million bales recorded on August 1, 2023, an increase of 0.69million bales. A year-on-year comparison was not available, as data was not collected on August 1, 2022, said PCGA.
Around, 1800 bales of Saleh Pat were sold at Rs 18,200 to Rs 18,400 per maund (condition), 400 bales of Rohri were sold at Rs 18,200 per maund, 2200 bales of Shahdad Pur, 800 bales of Nawab Shah were sold at Rs 18,200 to Rs 18,300 per maund, 200 bales of Daur were sold at Rs 18,200 per maund, 4800 bales of Tando Adam were sold at Rs 18,100 to Rs 18,300 per maund, 800 bales of Rahim Yar Khan, 600 bales of Khan Pur, 400 bales of Khanewal, 600 bales of Burewala were sold at Rs 18,700 per maund, 1200 bales of Vehari, 200 bales of Rajan Pur were sold at Rs 18,600 per maund, 600 bales of Chichawatni, 800 bales of Haroonabad were sold at Rs 18,600 to Rs 18,700 per maund, 800 bales of Faqeer Wali were sold in between Rs 18,650 to Rs 18,700 per maund, 600 bales of Shujaabad were sold at Rs 18,600 to Rs 18,650 per maund, 1200 bales of Layyah were sold in between Rs 18,400 to Rs 18,700 per maund and 400 bales of Winder were sold at Rs 18,200 per maund.
The Spot Rate remained unchanged at Rs 18,300 per maund. Polyester Fiber was available at Rs 360 per kg.
Copyright Business Recorder, 2023
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