Subdued business on cotton market

LAHORE: The local cotton market on Thursday remained bearish and the trading volume remained satisfactory.

Cotton Analyst Naseem Usman told media that the rate of new cotton in Sindh is in between Rs 15,550 to Rs 15,800 per maund and the rate of cotton in Punjab is in between Rs 15,700 to Rs 16,000 per maund.

The rate of Phutti in Punjab is in between Rs 6,000 to Rs 7,500 per 40 kg and the rate of Phutti in Sindh is in between Rs 6,000 to Rs 8,000 per 40 kg. The rate of cotton in Balochistan is in between Rs 15,600 to Rs 15,700 per maund. The rate of Phutti in Balochistan is in between Rs 6,800 to Rs 7,200 per maund.

Approximately, 1000 bales of Tando Adam, 800 bales of Sanghar were sold in between Rs 16,200 to Rs 16,400 per maund, 200 bales of Layyah were sold at Rs 16,200 per maund, 200 bales of Vehari were sold at Rs 16,225 per maund, 200 bales of Khanewal, 200 bales of Kassowal were sold at Rs 16,200 per maund and 200 bales of Winder were sold at Rs 16,250 per maund.

The Spot Rate remained unchanged at Rs 15,800 per maund. Polyester Fiber was available at Rs 330 per kg.