LAHORE: The local cotton market remained stable on Wednesday with trading activity slowing down due to rains in the cotton belt of Sindh and Punjab.
Cotton analyst Naseem Usman told the Business Recorder that the rate of new cotton crop in Sindh is between Rs 17,700 and Rs 17,800 per head. The rate of footi in Sindh is between Rs 7,300 to Rs 7,400 per 40 kg.
Cotton rates in Punjab range from Rs 18,000 to Rs 20,000 per head and cotton between Rs 7,500 to Rs 8,500 per 40 kg. Cotton rates in Balochistan range from Rs 17,700 to Rs 17,800 per head, while footy rates range from Rs 73,200 to Rs 7,800 per 40 kg.
200 bales of Chichavatni and 200 bales of Toba Tek Singh were sold at the rate of Rs.18,100 per head. The spot rate remained unchanged at Rs 17,935 per head. Polyester fiber was available at Rs 345 per kg.
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