LAHORE: The Spot Rate Committee of the Karachi Cotton Association on Saturday decreased the spot rate by Rs 500 per maund and closed it at Rs 14,500 per maund.

The local cotton market remained bearish and the trading volume remained low because of the rains in the cotton belt of Sindh and Punjab.

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 13,500 to Rs 14,500 per maund. The rate of cotton in Punjab is in between Rs 15,700 to Rs 16,000 per maund. The rate of Phutti in Sindh is in between Rs 5000 to Rs 6,000 per 40 Kg. The rate of Phutti in Punjab is in between Rs 55,00 to Rs 65,00 per 40 Kg

1000 bales of Sanghar were sold in between Rs 13700 to Rs 14000 per maund, 800 bales of Shah Dad Pur were sold in between Rs 14000 to Rs 14,300 per maund, 600 bales of Hyderabad were sold at Rs 13,500 to Rs 14,000 per maund, 800 bales of Tando Adam were sold at Rs 13,700 to Rs 14,000 per maund and 100 bales of Chichawatni were sold at Rs 16,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Saturday decreased the spot rate by Rs 500 per maund and closed it at Rs 14,500 per maund. The Polyester Fiber was available at Rs 325 per kg.

Copyright Business Recorder, 2022