LAHORE: The local cotton market displayed a bullish trend on Wednesday, with trading volume meeting satisfactory levels.
Cotton analyst Naseem Usman reported fluctuating rates in Sindh, ranging from Rs 18,500 to Rs 20,500 per maund, while Punjab recorded variations between Rs 18,500 to Rs 20,200 per maund. Noteworthy fluctuations were observed in Phutti prices, ranging from Rs 8,000 to Rs 9,200 per 40 kg, and cotton prices from Balochistan documented at Rs 17,500 to Rs 18,000 per maund.
Several significant cotton transactions were reported, including 200 bales of Mehrab Pur sold at Rs 20,200 per maund, 400 bales of Sarkand at Rs 20,000 per maund, 842 bales of Tando Adam at Rs 20,000 per maund, and 400 bales of Kot Banglow at Rs 19,700 per maund, 200 bales of Khan Pur were sold at Rs 20,000 per maund, 2400 bales of Tounsa Shareef were sold at Rs 19,400 to Rs 20,000 per maund and 400 bales of Fort Abbas were sold at Rs 18,200 per maund. Additionally, 2600 bales of Shujabad, 3600 bales of Rahim Yar Khan, and 2742 bales of Mianwali were sold at varying rates.
The Spot Rate remained stable at Rs 19,500 per maund, while Polyester fiber was available at Rs 362 per kg.
Copyright Business Recorder, 2024
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