LAHORE: The Karachi Cotton Association (KCA) on Wednesday kept the cotton spot rate unchanged at Rs 17,935 per quintal amid satisfactory volumes and steady business.
However, polyester fiber prices have increased by Rs 5 per kg, taking it to Rs 355 per kg from the earlier Rs 350 per kg.
Commenting on the market movement, cotton analyst Naseem Usman said cotton picking and ginning is still not back on track following recent rains in both Sindh and Punjab. The impact of the rains could be seen on the quality of the cotton, with the RD being on the decline with the higher quantity of garbage, so buyers were generally on the edge. They have to wait at least a week for fresh harvests to get quality, provided there are no further rains.
He further said that due to rains in the entire cotton area, the quality of 'footi' was not proper, while fresh harvesting was also delayed due to this rain.
While a mix was also observed and cotton was traded in the range of Rs.16,800 per head to Rs.17,500 per head in lower Sindh.
Naseem Usman said Sindh cotton was traded at Rs 17,500 to Rs 17,800 per head, while footy was traded at Rs 6,700 to Rs 7,400 per head. Cotton was seen trading in the range of Rs 18,100 to Rs 18,400 per head and cotton in the range of Rs 7,000 to Rs 8,500 per head in Punjab. While cotton from Balochistan was traded from Rs.17,600 to Rs.17,800 per head and cotton from Rs.7,000 to Rs.8,000 per head today.
According to KCA's daily market report, Shahdadpur 1600 bales traded at Rs 17,800 per head, Bukhari 400 bales at Rs 17,700 per head, Sanghar 1400 bales at Rs 17,400 to Rs 17,700 per head, Mehrabpur 200 bales traded. And 3200 bales of Rando Adam at Rs.17,800 per head and 600 bales of Mirpur Khas at Rs.17650 to Rs.17700 per head.
Similarly, 200 bales of Shah Pur Chakkar at Rs 17,700 per head, 400 bales of Toba Tek Singh at Rs 18, 100 per head, 200 bales of Mongi Bangla at Rs 18,200 per head, 1400 bales of Burewala at Rs 18,000 to 18,000 per head Business done. Rs 18,200 per head, 200 bales of Hasalpur at Rs 18,100 per head and 200 bales of Fakir Wali at Rs 18,200 per head.
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