Rates slipped on the cotton market on Monday amid better-than-expected phutti arrivals, dealers said. Official spot rate was inert at Rs 5750, they said. In the ready business over 10,000 bales of cotton changed hands between Rs 5650-5800, they said. Prices of seedcotton in Sindh were at Rs 2475-2525 and in Punjab, the rates of phutti were at Rs 2400-2550, they added.
According to the market sources in the late evening prices came down modestly after the Pakistan Cotton Ginners Association (PCGA) issued its fortnightly report till August 1, 2012, showing nearly 1.7 million bales have been reached to the ginneries. Naseem Usman sharing the same view said it is likely that cotton production may depict an increase of 15-20 percent till the end of September against the last year. Other brokers said that textile sector expectedly show better earning this year due to good cotton production, on the other hand, it is likely that value added sector would not achieve desired target for the current year.
The following deals were reported: 1000 bales of cotton from Shahdad Pur sold at Rs 5750, 1000 bales of cotton from Sanghar at Rs 5750/5765, 1000 bales of cotton from Mir Pur Khas at Rs 5750, 800 bales of cotton from Tando Adam at Rs 5750, 1200 bales of cotton from Burewala at Rs 5650/5750, 200 bales of cotton from Bahawal Nagar at Rs 5700, 600 bales of cotton from Jahanian at Rs 5650 5700, 200 bales of cotton from Dunia Pur at Rs 5700, 1000 bales of cotton from Vehari at Rs 5700/5750, 400 bales of cotton from Pul Bagar at Rs 5700/5750, 800 bales of cotton from Garh Maharaja at Rs 5750, 800 bales of cotton from Chichawatni at Rs 5750, 200 bales of cotton from Kabbir Wala at Rs 5750, 400 bales of cotton from Arif Wala at Rs 5750, 200 bales of cotton from Multan at Rs 5800, 200 bales of cotton from Yazman Mandi at Rs 5800 and 200 bales of cotton from Khanewal at Rs 5800.
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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"
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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 01.09.2012
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37.324 Kgs 5,750 130 5,905 5,905 NIL
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Equivalent
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40 Kgs 6,162 130 6,317 6,317 NIL
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