- KCA spot rate: Rs 18,000 per maund
- Down Rs 100 from the previous session
- Trading volume remained satisfactory; market stayed easy
- Rates are indicative
KARACHI: The cotton rate in Pakistan stood at Rs 18,000 per maund on Saturday after the Karachi Cotton Association cut its official spot rate by Rs 100 for Friday’s trading session.
According to the Karachi Cotton Association, the Spot Rate Committee decreased the benchmark rate by Rs 100 per maund. The new rate compares with Rs 18,100 per maund in the previous session.
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.
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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