LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Saturday increased the spot rate by Rs 100 per maund and closed it at Rs 18,000 per maund.

Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained firm and the trading volume remained low.

He also told that the rate of new crop of cotton in Sindh is in between Rs 18,000 to Rs 18,200 per maund. The rate of Phutti in Sindh is in between Rs 8,000 to Rs 8,500 per 40 kg.

The rate of cotton in Punjab is in between Rs 18,300 to Rs 18,500 per maund and the rate of Phutti is in between Rs 8,000 to Rs 8,800 per 40 kg. The rate of cotton in Balochistan is Rs 17,900 to Rs 18,000 per maund while the rate of Phutti is in between Rs 7,800 to Rs 8,500 per 40 kg. 200 bales of Mian Channu were sold at Rs 18,400 per maund and 200 bales of Vehari were sold at Rs 18,300 per maund.

The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 100 per maund and closed it at Rs 18,000 per maund. Polyester Fiber was available at Rs 350 per kg.

Copyright Business Recorder, 2023