LAHORE: The local cotton market on Saturday remained bearish while the trading volume remained low. The Spot Rate remained unchanged.

Cotton Analyst Naseem Usman while talking to Business Recorder said that price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 7000 to Rs 9000. Cotton of Sindh was traded from Rs 18,000 to Rs 20,000 per maund; Punjab’s cotton was traded from Rs 18,000 to Rs 20,000 per maund.

He also told that 400 bales of Fort Abbas were sold at Rs 19,200 per maund and 400 bales of Pano Aqil were sold at Rs 21,500 per maund. He also told that 400 bales of Dherki were sold at Rs 21,000 per maund.

Naseem Usman also told that due to war between Russia and Ukraine the prices of cotton witnessed a decline both locally and internationally. The Spot Rate remained unchanged at Rs 20,000 per maund. Polyester Fiber was available at Rs 268 per kg.

Copyright Business Recorder, 2022