Modest trading activity on cotton market

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

Cotton Analyst Naseem Usman told Business Recorder that Pakistan Cotton Ginners Association has released the statistics of cotton production in the country till November 15, according to which the cotton production in the country during this period was seventy three lac and seventy thousand and six hundred twenty four bales.

He also told that the the rate of cotton in Sindh is in between Rs 15,500 to Rs 18,000 per maund. The rate of Phutti in Sindh is in between Rs 5,000 to Rs 7,200 per 40 kg. The rate of cotton in Punjab Rs 16,000 to Rs 18,000 per maund and the rate of Phutti in Punjab is in between Rs 6,500 to Rs 8,400 per 40 kg. The rate of cotton in Balochistan is Rs 17,000 to Rs 17,500 per maund while the rate of Phutti is in between Rs 6,500 to Rs 8,000 per 40 kg.

Around, 600 bales of Fort Abbas were sold at Rs 16,500 per maund, 400 bales of Yazman Mandi were sold at Rs 16,000 per maund, 800 bales of Haroonabad were sold at Rs 16,500 per maund, 200 bales of Chichawatni were sold at Rs 17,000 per maund, 200 bales of Mian Wali were sold at Rs 18,000 per maund, 200 bales of Dera Ghazi Khan were sold at Rs 17,500 per maund and 1000 bales of Haroonabad were sold at Rs 17,000 per maund.

The Spot Rate remained unchanged at Rs 17,500 per maund. Polyester Fiber was available at Rs 360 per kg.

Copyright Business Recorder, 2023