- KCA spot rate: Rs 17,800 per maund
- Unchanged from the latest official session
- Market remained stable and trading volume remained moderate
- Rates are indicative
KARACHI: The cotton rate in Pakistan stays at Rs 17,800 per maund today after another flat Thursday session.
The Karachi Cotton Association kept its official spot rate unchanged after the Thursday trading session. Cotton Analyst Naseem Usman told Business Recorder that the cotton market remained stable and the trading volume remained moderate.
Thursday session figures were published on Friday morning. The rate is unchanged from the previous cotton rate of Rs 17,800 per maund recorded on 12 November.
The official spot rate table shows an ex-gin price of Rs 17,800 and an ex-Karachi rate of Rs 18,080 after upcountry expenses of Rs 280, unchanged from 11 November.
Usman said the rate of cotton in Sindh is in between Rs 15,500 to Rs 18,500 per maund. In Sindh, the cotton rate in Pakistan today per 40 kg stands between Rs 7,000 and Rs 8,500 for phutti.
In Punjab, cotton rates stand between Rs 15,500 to Rs 18,500 per maund, with phutti at Rs 7,000 to Rs 9,200 per 40 kilograms. The rate of cotton in Balochistan is Rs 17,500 per maund. Balochi cotton is Rs 18,800 per maund.
Cotton arrivals at ginning factories reached 4,742,630 bales as of 31 October, up 6.88 per cent on last year. Textile mills showed little appetite as groups turned to imports, while New York futures traded between 78 and 83 US cents per pound.
According to the Karachi Cotton Association, the spot rate is the benchmark for Grade 3 cotton. Rates are indicative and may vary across stations and qualities.
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