COTTON RATE

NEW YORK: The US Agriculture Department set the prevailing world market price for upland cotton at 57.80 cents per lb, effective from 12:01 a.m. Eastern Time Friday, July 5 through 12 p.m. Eastern Time on Thursday, July 11.

The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton.

The next announcement will be on Thursday, July 11 at 4 p.m. Eastern Time, USDA said.

LAHORE: The local cotton market on Friday remained steady and the trading volume remained satisfactory.

Cotton Analyst Naseem Usman told that the rate of new cotton in Sindh is in between Rs 18,100 to Rs 18,300 per maund. The rate of Phutti in Sindh is in between Rs 7,900 to Rs 8,400 per 40 kg.

The rate of cotton in Punjab is Rs 19,100 to Rs 19,300 per maund. The rate of Phutti in Punjab is in between Rs 8,500 to Rs 9,300 per 40 kg.