LAHORE: The spot rate committee of the Karachi Cotton Association (KCA) on Thursday reduced the spot rate by Rs 700 per head and closed it at Rs 18,500 per head. The local cotton market remained subdued and the volume of business was satisfactory.
Cotton analyst Naseem Usman said that the cotton rate has fallen by Rs 3,000 per maund in the last four days. He also told that the reason for the decrease in the price in the local cotton market is the bearish trend in the New York cotton market as well as the decrease in the dollar price.
Naseem Usman also told the Business Recorder that the rate of new cotton crop in Sindh is Rs 17,000 to Rs 17,500 per head. The rate of footi in Sindh is between Rs 7,500 to Rs 8,000 per 40 kg.
The rate of cotton in Punjab is between Rs 18,500 to 18,700 per head and the rate of cotton in Punjab is between Rs 7,500 to 8,000 per 40 kg. Cotton rates in Balochistan range from Rs 17,500 to Rs 18,000 per head, while footy rates range from Rs 8,000 to Rs 9,000 per 40 kg.
Sui gas 800 bales was sold for Rs.18,700 per head, Pir Vasan 1000 bales for Rs.18,500 per head, Shahdadpur 1800 bales for Rs.18,500 to Rs.18,700 per head, Tando Adam 4200 bales were sold. 18,000 to 18,700 per head, 2400 bales of Rohri were sold for 18,300 to 18,700 per head, 1800 bales of Saleh Pat were sold for 18,500 to 19,500 per head, 1400 bales of Yajman Mandi at Rs. were sold 19,000 per head, Ahmad Pur East 200 bales at Rs 19,400 per head, Haasil Pur 200 bales at Rs 19,500 per head, Fort Abbas 800 bales at Rs 19,000 to Rs 20,000 per head, 600 bales per head were sold. Chichavatni was sold for Rs 19,000 per head, Haroonabad 1800 bales at Rs 19,000 to Rs 19,500 per head, Shujabad 800 bales, Khanewal 600 bales at Rs 19,000 to Rs 19,500 per head, Vehari 800 bales were sold. 19,500 to Rs 19,600 per head, 1600 bales of Burewala sold at Rs 18,500 to 19,000 per head, 400 bales of Gojra sold at Rs 19,000 per head, 800 bales of Marat at Rs 19,500 to 20,000 Sold at the rate of Rs per maund. , 400 bales of Kachchi Wala were sold at Rs 19,000 to Rs 19,500 per maund and 600 bales of Miyan Channu were sold at Rs 19,000 per maund.
The Spot Rate Committee of Karachi Cotton Association reduced the spot rate by Rs 700 per maund and closed it at Rs 18,500 per maund. The local cotton market remained subdued and the volume of business was satisfactory. Polyester fiber was available at Rs 378 per kg.
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