- KCA spot rate: Rs 18,000 per maund
- Unchanged from the previous session
- Market closed on Sunday
- Weekly fall of Rs 300 per maund
- Rates are indicative
KARACHI: The cotton rate in Pakistan stood at Rs 18,000 per maund on Monday, unchanged from the previous session, according to the latest spot-rate table published by the Karachi Cotton Association.
The table covers Saturday’s trading session. The local market remained closed on Sunday, so Saturday’s rate stands as the latest published benchmark for the new week.
In the latest daily market report, cotton analyst Naseem Usman told Business Recorder that the local market remained easy and trading volume remained satisfactory.
Usman said the rate of cotton in Sindh is in between Rs 16,500 to Rs 18,500 per maund, while phutti in the province is trading between Rs 7,000 to Rs 9,000 per 40 kilograms.
In Punjab, cotton rates stand between Rs 16,500 to Rs 18,500 per maund, with phutti fetching between Rs 7,000 to Rs 9,000 per 40 kilograms.
The rate of cotton in Balochistan is in between Rs 17,600 to Rs 18,000 per maund. The rate of phutti is Rs 7,800 to Rs 8,500 per 40 kg, while polyester fibre is quoted at Rs 445 per kg.
Business Recorder’s weekly review noted that the Spot Rate Committee cut the spot rate by Rs 300 per maund over the week and closed it at Rs 18,000 per maund.
According to the Karachi Cotton Association, the spot rate is the benchmark for Grade 3 cotton. The benchmark is watched closely by textile mills across the country. Rates are indicative and may vary across stations and qualities.
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