Low business activity was seen on the cotton market on Wednesday in process of trading, dealers said. The official spot rate was unchanged at Rs 6,600, they said. The prices of seed cotton in Sindh and Punjab per 40 kg were unchanged at Rs 2800-3100, they said. In ready session, nearly 3000 bales of cotton changed hands between Rs 6400-6700, they said.
Some dealers said that most of the ginners and spinners were upset due to financial losses. NY cotton futures were down. The following deals were reported as 1000 bale from Ghotki sold at Rs 6500, 1000 bales from Dharki at Rs 6600, 400 bales from Bhawalpur at Rs 6475, 400 bales from Fort Abbas at Rs 6625and 200 bales from Jalalpur at Rs 6700 (conditional), they said.
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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"
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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 01.04.2014
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37.324 Kgs 6,600 155 6,755 6,755 NIL
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Equivalent
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40 Kgs 7,073 155 7,228 7,228 NIL
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