*PAKISTAN COTTON MARKET UPDATE*
*Modest recovery seen on cotton market*
*The Spot Rate Committee of the Karachi Cotton Association (KCA) on Wednesday increased the spot rate by Rs 200 per maund and closed it at Rs 17500 per maund.*
*The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 200 per maund and closed it at Rs 17500 per maund. The Polyester Fibre was available at Rs 245 per kg.*
*The market remained bullish and the trading volume remained low.*
*Cotton analyst Naseem Usman while talking to Business Recorder said that price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 7800. The Prime Quality Cotton was available at Rs 17500 per maund.*
*Cotton of Sindh was traded from Rs 14500 to Rs 17500 per maund, Punjab’s cotton was traded from Rs 15000 to Rs 17500 per maund and Balochistan’s cotton prices remained from Rs 16,000 per maund to Rs 16,500 per maund.*
*While Banola from Sindh was traded from Rs 1,400 to Rs 2,300 per maund, Punjab’s crop was traded from Rs 1,800 to Rs 2,400 per maund and Balochistan’s Banola was traded from Rs 1,700 to Rs 2,300 per maund, added Naseem Usman.*
*As many as 800 bales of Ghotki were sold at Rs 18200 per maund, 600 bales of Sadiqabad were sold at Rs 17500 to Rs 18000 per maund, 2400 bales of Feroza were sold at Rs 18000 per maund, 200 bales of Rahim Yar Khan were sold at Rs 17500 per maund and 400 bales of Hasil Pur were sold at Rs 16500 per maund.*
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