Strong demand pushed the rates further higher on the cotton market on Tuesday in the process of trading activity, dealers said. The official spot rate was up by Rs 150 to Rs 8150, they added. Prices of seed cotton in Sindh were at Rs 3700-4000, in the Punjab seed cotton prices were at Rs 3700-4100 and in Balochistan, rates of seed cotton were at Rs 3700-4000, they said.
In ready session, volume of business came down as around 25,000 bales of cotton changed hands between Rs 7800-8350, they said.
Market sources said that sharp rise in the dollar's rate and tight supply of fine quality of cotton pushed the rates up.
Besides, cotton analyst, Naseem Usman said that rising trend in the international market was also an adding factor behind the increase in the prices. On the other hand, the ginners did not take interest in selling of quality lint in anticipation of rise in the rates, he added.
In the world market, prices of cotton gained momentum due to several factors.
The following deals reported: 600 bales of cotton from Shahdadpur at Rs 8000, 800 bales from Tando Adam at Rs 8000, 400 bales from Moro at Rs 8200, 2400 bales from Nawabshah at Rs 8100/8200, 2000 bales from Rohri at Rs 8250/8300, 1800 bales from Saleh Pat at Rs 8300/8350, 3600 bales from Khairpur at Rs 8250/8350, 2000 bales from Rajanpur at Rs 8300, 1000 bales from Rahim Yar Khan at Rs 8250/8350, 400 bales from Sadiqabad at Rs 8350, 400 bales from Ahmedpur East at Rs 8300, 1000 bales from Fazilpur at Rs 8300, 200 bales from Liaquatpur at Rs 8300, 200 bales from Shujabad at Rs 8300, 1400 bales from Fort Abbas at Rs 8150/8255, 1000 bales from Haroonabad at Rs 8100/8250, 1000 bales from Layyah at Rs 8150/8250, 100 bales from Khanewal at Rs 8225, 400 bales from Bahawalpur at Rs 8200, 1200 bales from Faqirwali at Rs 7900/8200, 200 bales from Liaquatpur at Rs 8200, 600 bales from Mianwali at Rs 8200, 400 bales from Vehari at Rs 8200, 200 bales from Dharanwala at Rs 8200, 200 bales from Hasilpur at Rs 8150, 100 bales from Jhang at Rs 8150, 200 bales from Tonsa Shareef at Rs 8150, 200 bales from Maroot at Rs 8100, 1400 bales from Chichawatni at Rs 7900/8000, 200 bales from Kichiwala at Rs 7900 and 800 bales from Burewala at Rs 7800/8000, 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 08.10.2018
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37.324 kg 8,150 160 8,310 8,160 + 150/-
Equivalent
40 kgs 8,734 171 8,905 8,745 + 160/-
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