Activity may slow down after PCGA report

Volume of business might not retain the present level following the Pakistan Cotton Ginners Association (PCGA) report, dealers said on Monday at the cotton market.
The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2400, without upcountry expenses. In Sindh, phutti prices were at Rs 1175-1250 and in Punjab at Rs 1150 and Rs 1225, showing a fall of Rs 50 due to positive outlook for the cotton crop after the PCGA report, dealers said.
Due to encouraging outlook for the arrival figure, the mills may show some reluctance in the fresh buying and may wait for the declining trend in the prices, they said.
Phutti arrival figure till November 15, were issued by the (PCGA) on Sunday, the total figure was over 6.087 million bales of seed cotton against the last year's figure of 6.081 million bales, dealers said.
The following deals were reported: 1000 bales of cotton from Dadu sold at Rs 2425, 1000 bales from Khairpur at Rs 2400, 1000 bales from Nawabshah at Rs 2350, 400 bales from Sanghar at Rs 2350, 4000 bales from Bahawalnagar at Rs 2475/85, 2000 bales from Rahim Yar Khan at Rs 2475/80, 1000 bales from Khanpur at Rs 2480, 2000 bales from Ahmedpur East at Rs 2475/85, 1000 bales from Jalalpur at Rs 2475, 2000 bales from Lodhran at Rs 2475-80, 1000 bales from Sahiwal at Rs 2415, 2000 bales from Hyderabad at Rs 2460-75, same figure from Alipur at Rs 2475-80, same figure from Uch Sharif at the same rate, 1000 bales from Sadiqabad at Rs 2475, same figure from Hasilpur at Rs 2460, same figure from Chistian at Rs 2450 and 2000 bales from Khanewal at Rs 2475.

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The KCA Official Spot Rate for Local Dealings in Pak Rupees

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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"

MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL

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Rate           Ex-Gin     Upcountry    Spot Rate Ex-Karachi

for            Price                        Sales Tax @ 15%

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37.32 Kgs      2400.00         50                   2450.00

Equivalent-------------------------------------------------

40 Kgs         2572.00         50                   2620.00

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