LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) increased the spot rate by Rs 300 per maund and closed it at Rs 17,000 per maund.

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

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 14,500 to Rs 17,000 per maund. The rate of cotton in Punjab is in between Rs 15,000 to Rs 17,000 per maund. The rate of Phutti in Sindh is between Rs 4,500 to Rs 8,500 per 40 kg. The rate of Phutti in Punjab is in between Rs 45,00 to Rs 8,500 per 40 kg.

400 bales of Yazman Mandi were sold at Rs 18,500 per maund, 200 bales of Fort Abbas were sold at Rs 17,500 per maund and 200 bales of Haroonabad were sold at Rs 17,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 300 per maund and closed it at Rs 17,000 per maund. Polyester Fiber was available at Rs 285 per kg.

Copyright Business Recorder, 2022