Mills, spinners remain active buyers on cotton market

Moderate trading was seen on the cotton market on Monday as mills and spinners continued forward buying to cover their needs, dealers said. The official spot rate was unchanged Rs 4000, they said. Phutti prices in Sindh were sharply higher at Rs 1925-1950 and in Punjab, the rates were at Rs 1800-1900, they said.
Market sources said that the mills and spinners trying to keep themselves away from the harm way in case of hike in the prices in the near future. There were some talks about the pest attack on the crop. On the other hand ginners were not increasing the asking prices due to smooth phutti arrivals, they added.
After the announcement of fall in the oil prices, the polyester fibre prices also came down from Rs 126 to Rs 121. Some cotton analysts were of the view that the prices may move both ways in the near future.
THE FOLLOWING DEALS WERE REPORTED: 1600 bales of cotton from Mirpurkhas sold at Rs 4025-4050, 1200 bales from Shahdadpur at Rs 4050-4075, 1000 bales from Tando Adam at Rs 4050-4075, 1400 bales from Sanghar at Rs 4050-4100, 200 bales from Sinjhoro at Rs 4075, 800 bales from Hala at Rs 4050-4075, 600 bales from Nawabshah at Rs 4050, 200 bales from Vehari at Rs 4000, 800 bales from Pakpattan at Rs 3925-3950, 400 bales from Bhawalnagar at Rs 4000, 1000 bales from Mian Channu at Rs 4000-4025,1000 bales from Chichawatni at Rs 4000-4025, 1000 bales from Burewala at Rs 4000, 1000 bales from Khanewal at Rs 4025-4040 and 600 bales Hasilpur at Rs 4000, dealers said.

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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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37.324 Kgs     4,000.00      100                   4,100.00

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Equivalent

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40 Kgs         4,287.00      100                   4,387.00

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