The Spot Rate Committee of the Karachi Cotton Association (KCA) on Friday increased the spot rate by RS 100 per maund and closed it at Rs 12800 per maund. The Spot Rate Committee of the Karachi Cotton Association on Friday increased the spot rate by RS 100 per maund and closed it at Rs 12800 per maund. The Polyester Fiber was available at Rs 222 per kg.
The local cotton market on Friday remained stable and trading volume remained a little bit low. Cotton Analyst Naseem Usman told Business Recorder that due to rains in the cotton areas of Sindh and Punjab may effect the quality of Phutti. The rate of cotton in Sindh is in between Rs 11700 to Rs 13200 per maund and the rate of cotton in Punjab is in between Rs 13200 to Rs 13500 per maund.
The rate of the new crop of Phutti in Sindh was in between Rs 5300 to Rs 5800 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 5800 per 40 kg. The rate of Banola in Sindh is in between Rs 1500 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 1800 per maund. The rate of cotton in Balochistan is in between Rs 12300- 12400 per maund. The rate of Phutti in Balochistan is Rs 6000- 6500 per maund.
Khurram Shahzad MNA argued that cotton yarn worth $ 1 billion could manufacture cloth of $14billion which could be exported instead of exporting only cotton yarn.
