- KCA spot rate: Rs 17,800 per maund
- Unchanged from Monday’s trading session
- Market remained easy and trading volume remained moderate
- Rates are indicative
KARACHI: The cotton rate in Pakistan stands at Rs 17,800 per maund today as the Karachi Cotton Association’s official spot rate remains unchanged from Monday’s trading session.
Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained easy and the trading volume remained moderate. The rate is unchanged from the previous cotton rate of Rs 17,800 per maund recorded then.
Business Recorder’s report on Tuesday’s trading session is published the following morning, so the rate in force today is the latest verified session rate from Monday.
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 31 October session.
Usman said the rate of cotton in Sindh is in between Rs 16,500 to Rs 18,200 per maund, while phutti in the province is trading between Rs 7,000 to Rs 8,500 per 40 kilograms.
In Punjab, cotton rates stand between Rs 17,500 to Rs 18,300 per maund, with phutti fetching between Rs 7,500 to Rs 9,000 per 40 kilograms.
The rate of cotton in Balochistan is in between Rs 17,500 to Rs 17,600 per maund. The rate of phutti is Rs 7,500 to Rs 8,800 per 40 kg. Balochi cotton is quoted at Rs 18,700 to Rs 18,800 per maund.
Buying interest stayed limited on the local market. New York cotton futures traded between 79 and 84 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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