Cotton market showed an uptrend during the last week with an improvement in the trading volumes. However, fluctuations were observed in the price of cotton in the international cotton markets. Cotton prices rose from Rs 500 to Rs 1,000 a head in the local cotton market as spinners were interested in buying good quality cotton.
Naseem Usman, President of Karachi Cotton Brokers Forum, has said that the rate of cotton in the international cotton markets has remained stable. In Sindh and Punjab, cotton rates range from Rs 18,000 to Rs 21,000 per head, while footy rates range from Rs 6,500 to Rs 8,500 per 40 kg. The spot rate committee of the Karachi Cotton Association has increased the spot rate by Rs 2,00 per head and closed it at Rs 19,700 per head.
