Spot rate was down on the cotton market on Tuesday in process of trading, dealers said. Official spot rate was lower by Rs 50 to Rs 5700, they said. In the ready business, nearly 10,000 bales of cotton changed hands between Rs 5650-5800, they said. Prices of seed cotton in Sindh were at Rs 2475-2500 and in Punjab, the rates of phutti were at Rs 2400-2525, they added.
As a result of increase in phutti arrivals, prices showed slight weakness, Naseem Usman said. In the meantime, if monsoon rain started, it is expected that prices may go up in the coming days, he added. Other brokers said that if demand improves by the overseas markets, the prices may stabilise in days to come and if weather condition is not favourable, the rates could move up.
The following deals reported: 2000 bales of cotton from Shahdad Pur at Rs 5775/5800, 1200 bales of cotton from Sanghar at Rs 5750/5800, 1600 bales of cotton from Mir Pur Khas at Rs 5775/5800, 1000 bales of cotton from Tando Adam at Rs 5750/5800, 400 bales of cotton from Hyderabad at Rs 5750/5800, 400 bales of cotton from Kotri at Rs 5650, 400 bales of cotton from Vehari at Rs 5650, 200 bales of cotton from Sillan Wali at Rs 5650, 1000 bales of cotton from Burewala at Rs 5650, 200 bales of cotton from Chaniot at Rs 5650, 200 bales of cotton from Gojra at Rs 5650, 20 bales from Sahiwal at Rs 5700, 200 bales of cotton from Rajan Pur at Rs 5700, 400 bales of cotton from Chichawatni at Rs 5700, 400 bales of cotton from Rahim Yar Khan at Rs 5700, they 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"
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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 03.09.2012
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37.324 Kgs 5,700 130 5,855 5,905 -50
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Equivalent
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40 Kgs 6,109 130 6,264 6,317 -53
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