pakistan cotton market update
There is no respite from the declining trend in the cotton market
The Spot Rate Committee of Karachi Cotton Association on Thursday reduced the spot rate by Rs 200 per mind and closed it at Rs 13,500 per mind.
Polyester fiber was available at Rs 222 per kg.
The local cotton market remained on a downtrend and the business was satisfactory.
Cotton analyst Naseem Usman Business Recorder said the fall in cotton rates was mainly due to rains in the cotton growing regions of Sindh and Punjab, affecting the supply of ftti. The second reason is the arrival of imported footwear and lack of liquidity.
The price of cotton in Sindh is between Rs.12200 to Rs.13200 per mand and the price of cotton in Punjab is between Rs.13000 to Rs.13300 per mind.
The price of new foot crop in Sindh ranged from Rs 5200 to Rs 5700 per 40 kg. The price of ftti in Punjab is between Rs 5200 and Rs 5700 per 40 kg.
Banola price in Sindh is between Rs 1550 to Rs 1700 per mind. Banola price in Punjab is between Rs 1600 to Rs 1700 per mind. Cotton price in Balochistan is Rs.13200 per mand. The rate of foot in Balochistan is Rs 6100-6700 per mind.
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