LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Saturday increased the spot rate by Rs 500 per maund and closed it at Rs 23,000 per maund.

Cotton Analyst Naseem Usman told that the local cotton market on Saturday remained steady and the trading volume remained low.

He also told that the rate of cotton in Sindh is in between Rs 20,000 to Rs 22,000 per maund. The rate of cotton in Punjab is in between Rs 23,500 to Rs 24,000 per maund. The rate of Phutti in Sindh is in between Rs 7,500 to Rs 9,000 per 40 kg. The rate of Phutti in Punjab is in between Rs 8,000 to Rs 12,500 per 40 kg. The rate of cotton in Balochistan is in between Rs 19,500 to Rs 20,000 per maund.

200 bales of Nuabad were sold at Rs 21,800 per maund, 400 bales of Haroonabad were sold at Rs 23,800 to Rs 24,000 per maund, 400 bales of Khanewal were sold at Rs 23,700 to Rs 24,000 per maund, 200 bales of Mian Channu were sold at Rs 23,800 per maund and 600 bales of Burewala were sold at 23,500 to Rs 24,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Saturday increased the spot rate by Rs 500 per maund and closed it at Rs 23,000 per maund. The Polyester Fibre was available at Rs 300 per kg.

Copyright Business Recorder, 2022