LAHORE: The Spot Rate Committee of the Karachi Cotton Association on Friday decreased the spot rate by Rs 200 per maund and closed it at Rs 19,800 per maund.

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

Cotton Analyst Naseem Usman told Business Recorder that the rate of cotton in Sindh is in between Rs 17,500 to Rs 21,000 per maund.

The rate of cotton in Punjab is in between Rs 18,000 to Rs 20,000 per maund. The rate of Phutti in Sindh is between Rs 7,000 to Rs 8,300 per 40 Kg. The rate of Phutti in Punjab is in between Rs 7,000 to Rs 9,200 per 40 Kg.

400 bales of Mir Pur Mathelo were sold at Rs 20,000 per maund (condition), 1000 bales of Dharki were sold at Rs 20,500 (condition), 200 Faqir Wali were sold at Rs 19,500 per maund, 400 bales of Chicawatni were sold at Rs 19,600 per maund, 600 bales of Dera Ghazi Khan (condition), 800 bales of Rahim Yar Khan (condition), 800 bales of Sadiqabad, (condition) 200 bales of Fort Abbas (condition) were sold at Rs 20,000 per maund.

The Spot Rate Committee of the Karachi Cotton Association on Friday decreased the spot rate by Rs 200 per maund and closed it at Rs 19,800 per maund. Polyester Fiber was available at Rs 355 per Kg.

Copyright Business Recorder, 2023