Steady trend seen 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 rate of cotton in Sindh is Rs 14,000 to Rs 16,500 per maund. The rate of Phutti in Sindh is in between Rs 6,000 to Rs 7,800 per 40 kg. The rate of cotton in Punjab Rs 14,000 to Rs 16,400 per maund and the rate of Phutti in Punjab is in between Rs 6,500 to Rs 8,500 per 40 kg. The rate of cotton in Balochistan is Rs 15,000 to Rs 15,500 per maund while the rate of Phutti is in between Rs 7,000 to Rs 8,200 per 40 kg.

Nassem also said that according to the figures released by Pakistan Cotton Ginners Association till October 15th around 60 lac bales arrived in the cotton factories.

Around, 200 bales of Mir Pur Khas were sold at Rs 13,700 per maund, 200 bales of Fort Abbas were sold at Rs 15,300 per maund, 200 bales of Chichjawatni were sold at Rs 14,900 per maund, 400 bales of Rahim Yar Khan were sold at Rs 16,200 per maund, 200 bales of Chistian were sold at Rs 15,300 per maund, 200 bales of Tundsa Shareef were sold at Rs 15,200 per maund, 200 bales of Mureed Wala were sold at Rs 14,800 per maund, 200 bales of Layyah were sold at Rs 15,700 per maund and 200 Lodhran were sold at Rs 15,800 per maund.

The Spot Rate remained unchanged at Rs 16,000 per maund. Polyester Fiber was available at Rs 350 per kg.

Copyright Business Recorder, 2023