Cotton business volume slackens on lack of transport facility

In the absence of transport facility, the mills and exporters kept to the sidelines on the cotton market on Monday, dealers said. The official spot rate was unchanged at Rs 4100, brokers said. In the ready business nearly 22,000 bales of cotton changed hands between Rs 4025-4200. Phutti prices were same in both Sindh and the Punjab at Rs 2000-2150, they added.
The mills and exporters were not able to continue forward buying in the absence of transport facility, ahead of Eid-ul-Azha holidays, dealers said. They said that the needy buyers managed to purchase as much as they can buy despite the non-availability of vehicles, most of the transports were busy in carrying sacrificial animals from one place of another. Normal trading activity will resume after holidays and it is most likely that the prices may move both ways in the near future, they said.
THE FOLLOWING DEALS WERE REPORTED: 2000 bales of cotton from Shahdadpur sold at Rs 4050, 3000 bales from Nawahshah at Rs 4050-4100, 1000 bales from Tando Adam at Rs 4050, 1000 bales from Sanghar at Rs 4025-4050, 1000 bales from Mirpurkhas at Rs 4050, 800 bales from Khairpur at Rs 4100, 3000 bales from upper Sindh at Rs 4200, 3000 bales from Rahimyar Khan at Rs 4200, 1000 bales from Sadiqabad at Rs 4200, 1200 bales from Rajan Pur at Rs 4100-4150, 800 bales from Fazil Pur at Rs 4150, 1000 bales from Dera Gazi Khan at Rs 4125, 1000 bales from Bahawal Nagar at Rs 4025-4050 and 1400 bales from Burewala at Rs 4100.

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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     4,100.00      100                   4,200.00

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Equivalent

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40 Kgs         4,394.00      100                   4,494.00

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