LAHORE: The local cotton market on Monday remained tight and the trading volume remained relatively low.
Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh and Punjab is in between Rs 20,000 to Rs 22,500 per maund. Phutti prices in Punjab were observed between Rs 8,500 and Rs 10,500 per 40 kg.
Seed cotton (Phutti) equivalent to over 8.3 million or exactly 83,78,179 bales have reached ginning factories across the country till February 15, this year.
According to a fortnightly report of the Pakistan Cotton Ginners Association (PCGA) released on Sunday, over 8.3 million or 83,59,144 bales have undergone the ginning process i.e. converted into bales.
Cotton arrivals in Punjab were recorded at over 4.2 million or 42,64,560 bales. Sindh generated over 4.1 million or 41,13,672 bales.
The Spot Rate remained unchanged at Rs 21,500 per maund. Moreover, Polyester fiber was available in the market at Rs 365 per kg.
Copyright Business Recorder, 2024
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