- KCA spot rate: Rs 17,900 per maund
- Unchanged from the previous session
- Market remained easy and trading volume remained moderate
- Rates are indicative
KARACHI: The cotton rate in Pakistan held steady at Rs 17,900 per maund on Wednesday as the Karachi Cotton Association left its official spot rate unchanged after Tuesday’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 matches the previous cotton rate of Rs 17,900 per maund recorded in the previous session.
Usman said the rate of cotton in Sindh is in between Rs 16,000 to Rs 17,800 per maund, while phutti in the province is trading between Rs 7,000 to Rs 8,800 per 40 kilograms.
In Punjab, cotton rates stand between Rs 16,000 to Rs 17,800 per maund, with phutti fetching between Rs 7,000 to Rs 8,800 per 40 kilograms.
The rate of cotton in Balochistan is in between Rs 17,500 to Rs 17,700 per maund. The rate of phutti is Rs 7,200 to Rs 8,800 per 40 kg.
Balochi cotton is quoted at Rs 18,600 to Rs 18,700 per maund and 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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