LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday decreased the spot rate by Rs 400 per maund and closed it at Rs 17,400 per maund.
Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained bearish and the trading volume remained low. He also told that the market tumbled because of quality issues as the ginning in rainy weather is lowering the lint quality thus reducing price. Quality cotton prices, however are firm. It will take a few days to get the proper ginning operation back on track.
The rate of cotton in Sindh is in between Rs 16,500 to Rs 17,000 per maund. The rate of Phutti in Sindh is in between Rs 6,000 to Rs 7,000 per 40 kg.
The rate of cotton in Punjab is in between Rs 17,500 to Rs 18,000 per maund. The rate of Phutti in Punjab is in between Rs 6,500 to Rs 7,800 per 40 kg.
The rate of cotton in Balochistan is in between Rs 16,800 to Rs 17,000 per maund. The rate of Phutti in Balochistan is in between Rs 6,500 to Rs 7,200 per 40 kg.
ABOUT, 1200 bales of Tando Adam, 800 bales of Shahdad Pur were sold at Rs 17,000 to Rs 17,300 per maund, 800 bales of Sanghar were sold at Rs 17,100 per maund, 200 bales of Shah Pur Chakar were sold at Rs 17,200 per maund, 200 bales of Halani, 200 bales of Rani Pur were sold at Rs 17,300 per maund, 600 bales of Vehari were sold at Rs 17,450 to Rs 17,700 per maund, 1200 bales of Chichawatni were sold at Rs 17,600 to Rs 17,700 per maund, 400 bales of Mian Channu were sold at Rs 17,600 to Rs 17,800 per maund, 1000 bales of Khanewal were sold at Rs 17,700 to Rs 17,900 per maund, 1200 bales of Layyah were sold in between Rs 17,600 to Rs 18,100 per maund, 200 bales of Shujabad were sold at Rs 17,800 per maund, 200 bales of Burewala were sold at Rs 17,600 per maund and 200 bales of Rahim Yar Khan were sold at Rs 18,000 per maund.
The Spot Rate Committee of the Karachi Cotton Association on decreased the spot rate by Rs 400 per maund and closed it at Rs 17,400 per maund. Polyester Fiber was available at Rs 365 per kg.
Copyright Business Recorder, 2024
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