Solo deal was reported on the cotton market on Monday as leading participants were on the sidelines owing to lack of interest, dealers said.
The official spot rate maintained week-end level at Rs9000, they added. In the ready session, a single deal of 2000 bales of cotton from Sadiqabad finalised at Rs9000, they said.
Rate of seed cotton per 40kg in Sindh low quality was at Rs2800, while the best quality was unchanged at Rs4100, and in the Punjab prices of low quality were at Rs2800 while the fine type was available at Rs4600, they said.
In Sindh, Binola prices per maund were at Rs1400-1800, in Punjab rates were at Rs1650-1800, they said and the rate of polyester fibre was at Rs173 per kg, they added.
Market sources said that leading participants were not active toward new deals. It looks that cotton market is totally in grip of coronavirus, this has affected the business activity of the globe.
Cotton analyst, Naseem Usman said that volume of business likely to show improvement in the coming days.
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The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
on 22-02-2020
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37.324 kg 9,000 160 9,160 9,160 NIL
Equivalent
40 kgs 9,645 171 9,816 9,816 NIL
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