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LAHORE: The local cotton market remained bearish on Friday, with low trading volume. According to Cotton Analyst Naseem Usman, Phutti for the 2024-25 season from Lower Sindh has started arriving, and ginning factories are expected to begin partial operations in May.
Usman emphasised the need for the government to announce a support price for cotton immediately, as delays have caused unrest among farmers. Cotton prices in Sindh and Punjab ranged from Rs 19,500 to Rs 21,500 per maund, while Phutti prices in Punjab were between Rs 9,500 and Rs 10,000 per 40 kg. The Spot Rate remained unchanged at Rs 19,700 per maund, and polyester fiber was available at Rs 367 per kg.
Copyright Business Recorder, 2024
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