Cotton begins new week with higher prices

The new week started with higher cotton prices during the post-holiday session on Monday though the main participants were engaged in Eid greeting, dealers said. The official spot rate held its last week's level at Rs 2075, without upcountry expenses, dealers said. Seed-cotton prices picked up nearly Rs 50 to Rs 900-1025 in Sindh and in Punjab phutti prices were quoted at Rs 900-1050, they added.
They also said that cotton prices in Sindh were at Rs 1900-2160 and in Punjab at Rs 1900-2150.
Commenting on the rising trend in the cotton prices, marketmen said that the heavy rains in the upcountry may play an important role in maintaining the upward trend.
Demand increased for cotton as spinners indulged in fresh buying on anticipation of cotton quality might be affected by the recent rains, dealers said.
But market sources could not confirm any deal at the asking prices of 2200 for Upper Sindh type.

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The KCA Official Spot Rate for Local Dealings in Pak Rupees

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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"

 MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL

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Rate           Ex-Gin     Upcountry    Spot Rate Ex-Karachi

for            Price                        Sales Tax @ 15%

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37.32 Kgs      2075.00        50                    2125.00

Equivalent-------------------------------------------------

40 Kgs         2224.00        50                    2274.00

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