Cotton prices rise on short supply

Prices went up on the cotton market on Monday in process of sizeable activity, dealers said. The official spot rate was up by Rs 50 to Rs 6350, they said. In the ready session around 4000 bales of cotton changed hands between Rs 6350-6500, they said. In Sindh, seed cotton rates were at Rs 2500-3000 per 40 kg, they said. In the Punjab, phutti prices were available at Rs 2800-3200 per 40 kg, they said.
Market sources said that slow phutti arrivals was the main reason behind the fresh increase in rates of cotton. Cotton Analyst, Naseem Usman said that some ginning mills have become operational in the Punjab but high content of moisture was affecting quality of lint. So, concerned department has warned farmers and growers to keep a watch over the condition of standing crop, because there is all possibility of pest attack due to moisture and stagnant water in the field, other brokers said.
They said that monsoon rains are good for the standing crop but if it prolonged, so it can damage the crop. The following deals reported: 400 bales of cotton from Mirpurkhas sold at Rs 6350, 100 bales from Jhole, 200 bales from Sinjoro, 600 bales from Sanghar all were finalised at the same rates, 400 bales from Tando Adam at Rs 6350/6400, 1200 bales from Shahdadpur at Rs 6375/6400, 300 bales from Chichawatni at Rs 6450/6500 and 400 bales from Burewala at Rs 6500, 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 1-1/16"

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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 22.07.2017

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37.324 kg         6,350       135        6,485         6,435         + 50/-

Equivalent

40 kgs            6,805       145        6,950         6,897         + 53/-

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