Cotton market: Subdued business on less buying interest

Trading activity slowed down on the cotton market on Saturday as some leading mills kept on the sidelines due to less buying interest, dealers said.
The official spot rate was unchanged at Rs 8200, they added. Prices of seed cotton in Sindh were at Rs 3700-3800, in the Punjab rates were same at Rs 3600-3800, and in Balochistan, prices of seed cotton were at Rs 3800-3900, they said.
In ready session, over 13,000 bales of cotton finalised between Rs 8175-8350, they said.
According to the market sources, a wait-and-see mood prevailed on the market as some leading mills and spinners kept on the sidelines owing to less buying interest.
Cotton analyst, Naseem Usman said that mills were not active in purchasing of cotton as they have already replenished their stock and partly because of motivating factor.
Cotton prices moved both ways in the international markets, they said.
The following deals reported: 2000 1200 bales of cotton from Shahdadpur at Rs 8175/8200, 1200 bales from Sanghar at Rs 8175/8225, 1000 bales from Tando Adam at Rs 8200, 1200 bales from Mirpurkhas at Rs 8200, 400 bales from Shahpur Chakar at Rs 8200, 1000 bales from Nawabshah at Rs 8225/8250, 1400 bales from Saleh Pat at Rs 8300/8350, 1000 bales from Khairpur at Rs 8275/8300, 400 bales from Rajanpur at Rs 8350, 200 bales from Fazilpur at Rs 8300, 400 bales from Hasilpur at Rs 8300, 200 bales from Layyah at Rs 8260, 200 bales from Bahawalpur at Rs 8250, 400 bales from Burewala at Rs 8250, 400 bales from Chichawatni at Rs 8250, 200 bales from Faqeerwali at Rs 8250, 200 bales from Jhang at Rs 8250 and 400 bales from Haroonabad at Rs 8250, they said.

===========================================================================

The KCA Official Spot Rate for Local Dealings in Pakistan Rupees

---------------------------------------------------------------------------

FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"

---------------------------------------------------------------------------

                                    MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL

===========================================================================

Rate              Ex-Gin   Upcountry   Spot Rate    Spot Rate    Difference

                    For      Price     Ex-Karachi  Ex. KHI. As   Ex-Karachi

                                                  on 14-09-2018

===========================================================================

37.324 kg         8,200       160        8,360         8,360            NIL

Equivalent

40 kgs            8,788       171        8,959         8,959            NIL

===========================================================================