LAHORE: The local cotton market remained stable on Monday with steady trading volume.
Cotton analyst Naseem Usman said that the business of new cotton crop 2023-24 has started. 2400 bales of new cotton crop of Tando Adam, Sanghar and Hyderabad were sold at Rs.20,300 to Rs.20,500 per head. The rate of new fruit is 9400 to 9800 rupees per 40 kg.
He also informed that the price of cotton in Sindh ranges between Rs 17,000 to Rs 20,000 per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg.
200 bales of Mir Pur Mathelo were sold at Rs.21,500 per head (Condition).
The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg. The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 365 per kg.
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