LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday increased the spot rate by Rs 100 per maund and closed it at Rs 16800 per maund. The market remained steady and the trading volume remained low.

The prices of Phutti and Banola showed no change due to less demand, said cotton analyst Naseem Usman while talking to Business Recorder.

According to him, Phutti of Sindh was traded from Rs 4500-7300 per 40 kilograms; Punjab’s Phutti attracted per 40 kilograms prices from Rs 5500 to Rs 7800.

Similarly, Phutti from Balochistan was traded at Rs 6500 per 40 kilograms to Rs 7800 per 40 kilograms.

Cotton of Sindh was traded from Rs 13,500 to Rs 17000 per maund, Punjab’s cotton was traded from Rs 14,500 to Rs 17000 per maund and Balochistan’s cotton prices remained from Rs 16,000 per maund to Rs 16,500 per maund.

While Banola from Punjab was traded from Rs 1,350 to Rs 2,300 per maund, Punjab’s crop was traded from Rs 1,800 to Rs 2,300 per maund and Balochistan’s Banola was traded from Rs 1,700 to Rs 2,300 per maund, added Naseem Usman.

As many as 2200 bales of Ghotki were sold at Rs 15550 to Rs 17500 per maund, 1000 bales of Saleh Pat were sold at Rs 15800 per maund, 600 bales of Khair Pur were sold at Rs 16400 per maund, 600 bales of Multan were sold at Rs 17200 per maund, 821 bales of Sadiqabad were sold at Rs 16500 per maund and 600 bales of Yazman Mandi were sold at Rs 15450 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 100 per maund and closed it at Rs 16800 per maund. The Polyester Fiber was available at Rs 245 per kg.

Copyright Business Recorder, 2021