The spot rate committee of the Karachi Cotton Association (KCA) on Wednesday reduced the spot rate by Rs 800 per head and closed it at Rs 21,000 per head. The local market continued to be bearish with low trading volumes.
Cotton analyst Naseem Usman said that the price of cotton in Sindh ranges from Rs 8,000 to Rs 21,000 per head. The rate of cotton in Punjab ranges from Rs 19,000 to Rs 21,500 per head. The rate of footi in Sindh ranges from Rs 6,500 to Rs 9,000 per 40 kg. The rate of footi in Punjab is Rs 7,500 to 10,500 per 40 kg.
He also informed that 300 bales of Hyderabad were sold at Rs.18,000 per head, 400 bales of Mehrabpur, 600 bales of Rasulabad at Rs.18,500 per head, 200 bales of Ghani Goth at Rs.19,800 per head, 1000 bales of cotton were sold. Mianwali was sold at Rs 21,000 per head, Yajman Mandi 800 bales at Rs 20,000 to Rs 21,000 per head, Lodhran 200 bales at Rs 20,000 per head and Harunabad 400 bales at Rs 19,500 per head.
The spot rate committee of the Karachi Cotton Association reduced the spot rate by Rs 800 per head and closed it at Rs 21,000 per head. Polyester fiber rate was increased by Rs 5 and was available at Rs 345 per kg
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