Prices stabilised on the cotton market on Tuesday on the back of fresh demand by mills and spinners, dealers said. The official spot rate was unchanged at Rs 4,900, dealers said. In the ready session, around 16,000 bales of cotton changed hands between Rs 4200 and Rs 5100, they said.
Market sources said that an active buying was seen by the mills and spinners as the ginners were not ready to oblige them due to diminishing stock of fine variety. Cotton analyst, Naseem Usman said that it is expected cotton production at 14.7 million bales this year.
He said that some one million bales of raw cotton have been imported from India and cotton yarn also imported because of cheaper rates and the better quality, as well. The ginners have very small size of fine type and they are keen to sell the stuff at higher rates as much as they can.
The NY cotton market was closed on Monday to celebrate Washington Day.
The following deals reported: 390 bales from Tando Adam at Rs 4200, 456 bales from Setharaja at Rs 4500, 400 bales from Rohri at Rs 4700, 400 bales from Shahdadpur at Rs 4800, 1784 bales from Dadu at Rs 4825, 400 bales from Khanpur Mehar at Rs 5000, 400 bales from Ghotki at Rs 5000, 200 bales from Lodhran at Rs 4400, 400 bales from Hasilpur at Rs 4700, 400 bales from Haroonabad at Rs 4750, 200 bales from Maroot at Rs 4810, 500 bales from Burewala at Rs 4850, 600 bales from Chistian at Rs 4900, 400 bales from Yazman Mandi at Rs 4950, 400 bales from Jalalpur at Rs 4950, 200 bales from Jahanian at Rs 4950, 400 bales from Dera Ghazi Khan at Rs 5000, 200 bales from Multan at Rs 5000, 600 bales from Shujabad at Rs 5000, 500 bales from Khanewal at Rs 5050, 2000 bales from Rahim Yar Khan at Rs 5050-5100, 400 bales from Alipur at Rs 5100, 800 bales from Rajanpur at Rs 5100, 3000 bales from Sadiqabad at Rs 5100 and 400 bales from Mianwali at Rs 5100, they added.
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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 1-1/32"
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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 16.02.2015
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37.324 Kgs 4,900 150 5,050 5,050 NIL
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Equivalent
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40 Kgs 5,251 160 5,411 5,411 NIL
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