LAHORE: Trading on the Karachi Cotton Association (KCA) on Wednesday remained dull amid lower volume thus leading to an unchanged spot rate for the second consecutive day. The spot rate remained Rs 17,200 per maund.
Cotton Analyst Naseem Usman while commenting on today’s activity said that the ginners were not getting quality Phutti right now. Shortage of the cotton thus pushed the rates cotton and Phutti arriving from different parts of the country upward.
Naseem Usman said that the rate of cotton in Sindh remained between Rs 15,500 to Rs 18,000 per maund. The rate of Phutti in Sindh was witnessed between Rs 5,000 to Rs 7,000 per 40 kg. The rate of cotton in Punjab moved upward and was registered at Rs 16,000 to Rs 18,000 per maund; however, rate of Phutti in Punjab remained between Rs 6,000 to Rs 8,000 per 40 kg. The rate of cotton in Balochistan remained at Rs 17,000 to Rs 17,500 per maund while Phutti was traded in between Rs 7,000 to Rs 8,300 per 40 kg.
Copyright Business Recorder, 2023
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