LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday decreased the spot rate by Rs 3,00 per maund and closed it at Rs 18,300 per maund.
Cotton Analyst Naseem Usman told Business Recorder that there is a pressure in the local cotton market. Trading volume remained satisfactory. He also told that business was affected due to the rain in the cotton growing areas of Sindh and Punjab.
Naseem Usman also told that the rate of new cotton in Sindh is in between Rs 18,000 to Rs 18,200 per maund. The rate of Phutti in Sindh is in between Rs 8,000 to Rs 8,500 per 40 kg.
The rate of cotton in Punjab is Rs 19,000 to Rs 19,200 per maund. The rate of Phutti in Punjab is in between Rs 8,500 to Rs 9,200 per 40 kg.
The rate of cotton in Balochistan is in between Rs 18,000 to Rs 18,200 per maund and the rate of Phutti is in between Rs 8,000 to Rs 8,600 per 40 kg.
Approximately, 1600 bales of Tando Adam were sold in between Rs 18,000 to Rs 18,400 per maund, 1200 bales of Shahdad Pur were sold at Rs 18,000 to Rs 18,300 per maund, 400 bales of Jhole were sold at Rs 18,200 to Rs 18,300 per maund, 1,000 bales of Sanghar were sold at Rs 18,100 to Rs 18,300 per maund, 600 bales of Hyderabad were sold at Rs 18,200 to Rs 18,300 per maund, 600 bales of Choudagi were sold at Rs 18,350 to RS 18,400 per maund, 600 bales of Hasil Pur were sold at Rs 19,000 to Rs 19,300 per maund, 400 bales of Vehari were sold at Rs 19,200 per maund, 600 bales of Burewala, 200 bales of Khanewal, 200 bales of Gojra and 200 bales of Chichawatni were sold at Rs 19,000 per maund.
The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 3,00 per maund and closed it at Rs 18,300 per maund. The rate of Polyester Fiber was increased by Rs 5 per kg and was available at Rs 380 per kg.
Copyright Business Recorder, 2024
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