Cotton market: Early selling of cotton, Phutti for new season begin
LAHORE: Despite delays in cotton sowing due to adverse weather conditions, pre-sales of cotton and Phutti for the new season of 2024-25 have started.
Some traders from Diggri, Mirpur Khas, Hyderabad, and Tando Bhago in Sindh have sold new cotton for delivery between May 5 and May 30. They sold a minimum of 25 trucks of cotton at a rate of Rs 10,000 to Rs 11,000 per 40 kg.
This includes deals for advanced cotton from Punjab’s Chichawatni, and Khanewal factories, as well as Sindh’s Shahdadpur, Mirpur Khas, Sanghar, and Tando Adam factories.
Cotton Analyst Naseem Usman told Business Recorder that the local cotton market on Tuesday remained sluggish and the trading volume remained low.
Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh and in Punjab is in between Rs 19,000 to Rs 22,000 per maund. Phutti
prices in Punjab were observed between Rs 9,500 and Rs 10,000 per 40 kg.
The Spot Rate remained unchanged at Rs 21,500 per maund. Polyester Fiber was available at Rs 367 per kg.
Copyright Business Recorder, 2024
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