Pakistan: The spot price further declined by Rs 300 per head.
LAHORE: The spot rate committee of the Karachi Cotton Association (KCA) on Thursday reduced the spot rate by Rs 3,00 per head and closed it at Rs 18,700 per head.
The local cotton market remained subdued and the volume of business was satisfactory. Cotton analyst Naseem Usman said that the rate of new crop of cotton in Sindh is between Rs 18,300 to Rs 18,600 per head. The rate of footi in Sindh is between Rs 7,200 to Rs 8,000 per 40 kg. Cotton rates in Punjab range from Rs 19,500 to Rs 19,700 per head and cottonseed rates range from Rs 8,800 to Rs 9,500 per 40 kg.
About 4600 bales of Tando Adam were sold at Rs.18,500 to Rs.18,800 per head, 200 bales of Khando at Rs.18,500 per head, 600 bales of Khadro at Rs.18,500 to Rs.18,700 per head, 400 bales of Shah Pur were sold. Chakar was sold for Rs.18,500 to Rs.18,700 per head, Mirpur Khas in 600 bales at Rs.18,500 to Rs.18,800 per head, Sanghar in 1600 bales at Rs.18,500 to Rs.18,800 per head, Chichavatni in 100 bales. At the rate of Rs.19,700 per head, 200 bales of Haasil Pur, 200 bales of Khanewal were sold at the rate of Rs.19,600 per head.
The Spot Rate Committee of the Karachi Cotton Association reduced the spot rate by Rs 3,00 per head and closed it at Rs 18,700 per head. Polyester fiber was available at Rs 355 per kg.
