- KCA spot rate: Rs 17,800 per maund
- Unchanged from Saturday’s trading session
- Market remained stable and trading volume remained moderate
- Rates are indicative
KARACHI: The cotton rate in Pakistan stands at Rs 17,800 per maund today, unchanged from Saturday’s session.
The Karachi Cotton Association kept its official spot rate unchanged after Saturday’s trading session. Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained stable and the trading volume remained moderate.
The Saturday session figures were published on Sunday morning. The market remained closed on Sunday. The rate is unchanged from the previous cotton rate of Rs 17,800 per maund recorded on 6 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 the 6 November session.
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 fetching between Rs 7,000 to Rs 9,200 per 40 kilograms. The rate of cotton in Balochistan is Rs 17,500 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 for local cotton 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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