The Spot Rate Committee of the Karachi Cotton Association on Thursday increased the spot rate by Rs 100 per maund and closed it at Rs 10,100 per maund. The local cotton market remained Bullish on Thursday. Market sources said that trading activity was satisfactory. The bullish trend was also witnessed in the rate of Phutti.
Cotton Analyst, Mr. Naseem Usman, said that Cotton Vision 2015, launched in 2011 during the Pakistan Peoples Party (PPP) government’s tenure, had envisaged that cotton production would jump from 10.6 to 20 million bales in 2015 or even earlier. But, unfortunately, that did not happen.
Naseem told that 200 bales of cotton of Lodhran were sold at Rs 11000 per maund, 1200 bales of Rahim Yar Khan were sold at Rs 10,500 to RS 10,600, 1200 bales of Sadiqabad were sold at Rs 10,250 to Rs 10,500, 200 bales of Marrot were sold at Rs 10,200, 200 balers of Chichawatni were sold at Rs 10,100, 1200 bales of Fort Abbas were sold at Rs 10050 to Rs 10,100, 1000 bales of Yazman were sold at Rs 10,000, 400 bales of Khanewal were sold at Rs 9900, 400 bales of Manga Mandi were sold at Rs 9900, 1000 bales of Mian Wali were sold at Rs 9850 to Rs 9900, 400 bales of Rajan Pur were sold at Rs 9900 and 1200 bales of Saleh Pat were sold at RS 9900.
He said that the cotton rate in Sindh was between Rs 8800 to Rs 10,000 per maund. The rate of cotton in Punjab is between Rs 9500 to Rs 10,300 per maund. He also said that Phutti of Sindh was sold between Rs 4000 to Rs 4700 per 40 kg. The rate of Phutti in Punjab is between Rs 3800 to Rs 5400 per 40 Kg.
The rate of Banola in Sindh was between Rs 1500 to Rs 1825, while the price of Banola in Punjab was between Rs 1600 to Rs 2200. The rate of cotton in Balochistan is Rs 9200 per maund. The Spot Rate Committee of the Karachi Cotton Association on Thursday increased the spot rate by Rs 100 per maund and closed it at Rs 10,100 per maund. The Polyester Fiber was available at Rs 178 per Kg.
