LAHORE: The local cotton market remained bearish on Saturday, with trading volume staying low.
According to Cotton Analyst Naseem Usman, the reason behind low trading volume is slow arrival of Phutti. He stressed his hope that trading volume will improve after Eid - ul- Azha.
The rate of new cotton in Sindh is in between 19,000 to Rs 19,5000 per maund. The rate of cotton in Punjab is in between Rs 20,000 to Rs 20,500 per maund. The rate of new Phutti is in between Rs 88,00 to Rs 9,800 per 40 kg.
200 bales of cotton from Kotri were sold at Rs 19,000 per maund.
The Spot Rate remained unchanged at Rs 19,700 per maund, and Polyester Fiber was available at Rs 367 per kg.
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