The spot rate committee of the Karachi Cotton Association on Wednesday hiked the spot rate by Rs 200 per head and closed it at Rs 19,500 per head. The local cotton market was booming and the volume of business was satisfactory.
Cotton analyst Naseem Usman told that the price of cotton in Sindh is 17 thousand to 20 thousand rupees per head. The rate of cotton in Punjab is Rs 18,000 to Rs 20,000 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. Khan Pur sold 1,200 bales for Rs 20,200-20,500 per head, Rahim Yar Khan 2,000 bales, Muridwala 1,000 bales, Sadiqabad 800 bales and Chani Goth 400 bales sold for Rs 20,000 per head.
The spot rate committee of the Karachi Cotton Association increased the spot rate by Rs 200 per head and closed it at Rs 19,500 per head. Polyester fiber was available at Rs 373 per kg.
