Trade activity came down on the cotton market on Saturday as gas supplies curtailed to the industrial sector, dealers said. The official spot rate was unchanged at Rs 5,250, dealers said. In Sindh, seed cotton prices were at Rs 2400 and Rs 2900 and in the Punjab rates were at Rs 2500 and Rs 3050, they said. In the ready business, nearly 10,000 of deals were finalised between Rs 5375 and Rs 5600, they said.
Some brokers said that industries are already facing problems in the absence of required basic facilities, now this would propel the industrialists into uncertainties. Besides, cotton analyst, Naseem Usman said that the mills were showing interest in fine quality to make products free from contamination to attract global market.
Reuters adds: ICE cotton futures fell on Friday, touching a one-month low, under pressure from disappointing US government weekly export data, outside market pressure and a rising US dollar. The March cotton contracts on ICE Futures US settled down 0.17 cent, or 0.3 percent, at 61.99 cents per lb after falling to 61.56 cents, the lowest for the second-month since October 13.
The following deals reported, some 1600 bales of cotton from Khairpur sold at Rs 5375-5400, 800 bales from Layyah at the same rate, 200 bales from Dharn Wala at Rs 5400, 400 bales from Dera Gazi Khan at the same price, same figure from Noorpur at Rs 5450, 1200 bales from Fort Abbas at Rs 5500, 400 bales from Hasilpur, same number from Sheher Sultan, same figure from Jatoi all done at the same rates, 1400 bales from Haroonabad at Rs 5500-5525, 400 bales from Bahawalpur at Rs 5525, same figure from Lodhran, same figure from Ghazi Ghat all finalised at the same rate, 400 bales from Khanpur at Rs 5575, 1200 from Sadiqabad, 600 bales from Rahim Yar Khan all done at the same rate, 400 bales from Kabirwala sold at Rs 5600 and 1200 bales from Mianwali done at the same price, dealers said.
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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 13-11-2015
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37.324 kg 5,250 135 5,385 5,385 NIL
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Equivalent
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40 kgs 5,626 145 5,771 5,771 NIL
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