Spot rate in Pakistan cotton market decreased by Rs 300 per head
The spot rate committee of the Karachi Cotton Association (KCA) on Wednesday reduced the spot rate by Rs 300 per head and closed it at Rs 18,700 per head. The local cotton market remained bearish and the trading volume was very low.
Cotton analyst Naseem Usman said that the rate of cotton in Sindh is Rs 17,000 to Rs 18,500 per head. The rate of cotton in Punjab is Rs 17,500 to Rs 18,500 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg. 500 bales of Sadiqabad were sold at Rs 18,500 per head.
The spot rate committee of the Karachi Cotton Association reduced the spot rate by Rs 300 per head and closed it at Rs 18,700 per head. Polyester fiber was available at Rs 355 per kg.
