Sizeable activity was seen on the cotton market on Friday in the process of trading, dealers said. The official spot rate was unchanged at Rs 5,300, dealers said. In Sindh, seed cotton prices were at Rs 2400 and Rs 3000 and in the Punjab rates were at Rs 2400 and Rs 3100, they said. In the ready business, over 17,000 bales of cotton changed hands between Rs 4600 and Rs 5650, they said.
According to some brokers, the mills were trying to lay hands on fine type at the present rates, but the ginners were reluctant to sell in order to get better rates in the near future. Cotton analyst, Naseem Usman said that they were trying to keep back their unsold stock, because, they have spent huge amount at production, so that they don't want to lose more by selling right at the present levels.
The following deals reported: 1000 bales from Shahdadpur at Rs 4600-5250, 600 bales from Tando Adam at Rs 4900, same number from Qazi Ahmed at Rs 5300, 400 bales from Daur at the same rate, 800 bales from Sadiqabad at Rs 5650, 2000 bales from Khairpur at Rs 5400-5450, 800 bales from Salehpat at Rs 5475, 400 bales from Hasilpur at Rs 5600, 1000 bales from Rohri at Rs 5450-5500, 400 bales from Lodhran at Rs 5600, 600 bales from Chistian at Rs 5425, same figure from Rahim Yar Khan at Rs 5600, 400 bales from Layyah at Rs 5400-5525, same figure from Burewala at Rs 5450, 600 bales from Jalalpur at the same rate, same number from Dera Gazi Khan at the same rate, 800 bales from Yazman Mandi at Rs 5475, 600 bales from Ahmedpur at Rs 5500, 400 bales from Fazilpur at the same rate, same number from Alipur at Rs 5525, 400 bales from Fort Abbas at Rs 5550, 800 bales from Haroonabad at the same rate and 600 bales from Mianwali at Rs 5575-5650, they 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 19-11-2015
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37.324 kg 5,300 135 5,435 5,435 NIL
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Equivalent
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40 kgs 5,680 145 5,825 5,825 NIL
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