The cotton trade was low during last week, which could be attributed to celebrating the holy occasion in the country.
The trading activity lasted only for three days in the previous week. The international cotton market is showing an overall improvement. Due to the dollar’s appreciation against the rupee, textiles and spinning mills are being cautious in booking cotton from foreign countries.
The cotton rate in Central Asia, Africa, and Brazil was improved, while a significant increase was witnessed in India. The cotton rate in India reached a record level of 59000 per candy (356 kg), while the Cotton Corporation of India increased the price of cotton by Rs 400 to Rs 500 per candy.
According to the recent report by Business Recorder, the rate of cotton in Sindh according to quality is between Rs 12,400 to Rs 12,900 per maund. The rate of Phutti is between Rs 4500 to Rs 5300 per 40 kg. The rate of Banola is between Rs 1700 to Rs 1800 per maund.
The rate of cotton in Punjab is between Rs 13,200 to Rs 13,500 per maund, while the rate of Phutti is between Rs 5200 to Rs 6000 per 40 kg. The rate of Banola is between Rs 1800 to Rs 1900 per maund.
The rate of cotton in Balochistan is between Rs 12900 to Rs 13000 per maund, while the rate of Phutti is between Rs 5000 to Rs 5300 per 40 kg. The Banola is available from Rs 1700 to Rs 1900 per maund.
The Spot Rate Committee of the Karachi Cotton Association has stabled the rate of cotton at Rs 12700 per maund.
