Pakistan: Spot rate stable amid slow activity
LAHORE: The local cotton market was upbeat on Thursday with satisfactory trading volume.
Cotton analyst Naseem Usman told TOI that the reason behind the bullish trend is that ginners are oversold and not breaking.
He also said that the rate of new cotton crop in Sindh and Punjab is Rs 20,300 to Rs 20,500 per head. The rate of footi in Sindh and Punjab is Rs 8,800 to Rs 9,700 per head.
The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 355 per kg.
