*PAKISTAN COTTON MARKET UPDATE*
Modest trading activity on cotton market
The local cotton market on Thursday remained stable and trading volume remained a little bit low.
The Spot Rate remained unchanged at Rs 12700 per maund. The Polyester Fiber was available at Rs 222 per kg.
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.
Federal Finance Minister Shaukat Tarin in his speech on 19th September at KCCI meeting said that the current season of cotton production in Pakistan will produce about 12 million bales.
The rate of cotton in Sindh is in between Rs 11500 to Rs 113100 per maund and the rate of cotton in Punjab is in between Rs 13200 to Rs 13300 per maund.
The rate of the new crop of Phutti in Sindh was in between Rs 4800 to Rs 5600 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5400 to Rs 5800 per 40 kg. The rate of Banola in Sindh is in between Rs 1450 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1450 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12300- 12400 per maund. The rate of Phutti in Balochistan is Rs 5900- 6400 per maund.
Regards
Team Sis
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