LAHORE: In a recent development, the Spot Rate Committee of the Karachi Cotton Association (KCA) has decided to increase the spot rate by Rs 500 per maund, setting it at Rs 20,500 per maund.

This decision comes amidst a firm local cotton market with relatively low trading volume. According to Cotton Analyst Naseem Usman, cotton prices in Sindh are fluctuating between Rs 19,000 and Rs 21,500 per maund, while in Punjab, prices range from Rs 19,000 to Rs 21,000 per maund.

In Punjab, Phutti prices were observed between Rs 8,200 and Rs 9,500 per 40 kg, while in Balochistan, cotton prices ranged from Rs 17,500 to Rs 18,000 per maund. Notable transactions include 525 bales of Ghotki sold at Rs 21,500 per maund, 675 bales of Adil Pur sold at Rs 21,500 per maund, 600 bales of Ghotki sold at Rs 22,000 per maund, 400 bales of Pull Bagar sold at Rs 21,000 per maund, and 200 bales of Dera Ghazi Khan sold at Rs 21,200 per maund.

In addition to these developments, polyester fiber is also available in the market at Rs 365 per kg.

Copyright Business Recorder, 2024