september 13, 2020

Steady trend witnessed on cotton market.

After two-three days of bearish trend, local cotton market witnessed steady trading on Saturday due to which spot rate also remained unchanged at Rs 8550 per maund.

Cotton analyst and Karachi Cotton Brokers Forum Chairman Naseem Usman told Business Recorder that growers remained reluctant to sell Phutti and whatever they sold they remained tight regarding prices. As a result of which Ginners also remained reluctant in sale of their produce.


He said that Sindh cotton rate remained at Rs 7800-8300 per maund while Punjab's cotton was sold at Rs 8500-8700 per maund. Similarly, Phutti 40 kg rate for Sindh was sold at Rs 3200-4000 while Punjab's Phutti was sold at Rs 3100-4300 per 40 kg.


Whereas, Banola was sold at Rs 1550-1600 per maund (Sindh crop) and Rs 1700-1800 (Punjab Crop), he added.


He also said that 2200 bales of Tando Adam were sold at a rate of Rs 7800-8400, 1000 bales of Shahdadpur at Rs 7850-8265, 1000 bales of Sanghar at Rs 7500-7800, 600 bales of Hyderabad from Rs 8000-82765, 200 bales of Kotri at Rs 8000, 600 bales of Khanewal at Rs 8500, 400 bales of Faqeerwali at Rs 8675, 200 bales of Bahawalnagar at Rs 8650, 200 bales of Haroonabad at Rs 8650, 400 bales of Burewala at Rs 8600, 200 bales of Vehari at Rs 8500, 200 bales of Alipur at Rs 8500 and 400 bales of Dera Ghazi Khan were sold at Rs 8550.