Cotton spot rates up Rs250 to Rs,4159

KARACHI - Cotton spot rates of new crop jumped by Rs 250 to Rs 4,150 per maund (37.324 kg) on high demand during the week, brokers said.
Chairman Cotton Broker Forum Naseem Usman said here Saturday that KCA’s cotton rates went up from Rs 3,900 to Rs 4150 per maund due to buying of good quality cotton by the exporters.
He said that phutti prices also surged by Rs 100 to Rs 2100 per 40 kg and cotton seed by Rs 50 to Rs 890 per maund.
Naseem pointed out that exporters have dispatched 250,000 bales of cotton so far and contracted for another 50,000 bales from new crop.