LAHORE: The Spot Rate Committed of the Karachi Cotton Association (KCA) on Thursday increased the spot rate by Rs 100 per maund and closed it at Rs 19400 per maund.

The local market remained steady and the trading volume remained low.

Cotton Analyst Nasseem Usman while talking to Business Recorder said that price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 7000 to Rs 8600. Cotton of Sindh was traded from Rs 15500 to Rs 20,000 per maund, Punjab’s cotton was traded from Rs 16500 to Rs 20,000 per maund. He told that 1200 bales of Rahim Yar Khan were sold at Rs 19500 per maund.

He also told that 400 bales of Khan Pur were sold at Rs 19700 per maund, 600 bales of Mian Wali were sold at Rs 16300 to Rs 19500 per maund, 200 bales of Chichawatni were sold at Rs 19300 per maund and 200 bales of Fort Abbas were sold at Rs 19100 per maund.

Meanwhile All Pakistan Textile Mills Association appealed to Prime Minister Imran Khan, Finance Minister Shaukat Tarin, Minister for Energy Hammazd Azhar and Advisor for Commerce and Investment Abdul Razak Dawood to redress the issue of acute shortage of gas in Sindh and Balochistan.

Bangladesh Cotton Association has expressed its need for greater access to the international market and stronger price stability to the foreign ministry.

The newly elected committee of the Bangladesh Cotton Association led by its president Muhammad Ayub called on the Foreign Secretary Masud Bin Momen at the Foreign Ministry on Thursday (27 January).

The Association leadership appraised the Foreign Secretary about the initiatives undertaken by the association for diversifying cotton sourcing necessary for the spinning and in general the RMG sector and export.

The Foreign Secretary asked the association leadership to explore ways for managing the challenges emerging in the future as Bangladesh moves into the middle-Income country domain.

Both sides expressed their desire to work together for exploring new markets and for strengthening the supply chain solutions for the RMG and textile sector.

Branding and marketing revived cotton products such as Muslin and also other high-value traditional cotton items such as those found in Narayanganj and other places of the country also featured prominently during the discussions.

The Spot Rate Committed of the Karachi Cotton Association on Thursday increased the spot rate by Rs 100 per maund and closed it at Rs 19400 per maund. Polyester Fiber was available at Rs 263 per kg.

Copyright Business Recorder, 2022