LAHORE: The local cotton market remained stable on Tuesday with satisfactory trading volume.
Cotton analyst Naseem Usman said that trading for the new crop of 2023-24 has started. 400 bales of new cotton crop from Shahdadpur were sold at Rs 20,000 per head on the condition of delivery between June 6 and June 10.
He also informed that the price of cotton in Sindh ranges between Rs 17,000 to Rs 20,000 per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 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.
Mir Pur Mathelo sold 400 bales at Rs 21,500 per head (condition) and Khair Pur sold 800 bales at Rs 20,500 per head.
318 bales of Rahim Yar Khan were sold at Rs.20,000 per head. The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
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