Karachi cotton spot rate cut Rs300, closes at Rs18,000/maund
The Karachi Cotton Association cut the spot rate to Rs18,000 per maund as higher output and weaker crop quality kept local lint and seed cotton under pressure.
Karachi’s Spot Rate Committee cut the cotton spot rate by Rs300 per maund to Rs18,000.
Lint in Sindh and Punjab is trading between Rs16,500 and Rs18,500 per maund; seed cotton (phutti) is Rs7,000–9,200 per 40 kg.
PCGA says production reached 4.1 million bales by 15 October, about 7.5% higher than a year earlier.
Faisalabad power-loom owners say 40–50% of looms are idle and about 100,000 workers have lost jobs.
Ginners protest unannounced FBR raids in Sanghar, Tando Adam and Shahdadpur and warn of shutdowns.