Prices were firm on the cotton market on Friday as mills and spinners both played an active part in fresh buying, dealers said on Friday. The official spot rate was unchanged at Rs 6,450, they said. Price of seed cotton in Sindh per 40 kg were inert at Rs 2000-2900 and, in Punjab rates also did not show any change at Rs 2700-3100, dealers said. In the ready session, about 25,000 bales of cotton changed hands between at Rs 6200-6800, they said.
Some brokers said that there was no big reason behind the good demands, just traders were trying to cover forward deals. They wanted to keep themselves from losses as they have already suffering from huge losses due to high cost of production and non-availability of basic necessities, cotton analyst, Naseem Usman said. According to Reuters, the ICE cotton futures maintained higher trend on Thursday.
The following deals reported as 200 bales of cotton from Bandhi sold at Rs 6200, 200 bales from Daur at the same amount, 400 bales from Kazi Ahmed at the same rate, 800 bales from Khairpur (BCI) at Rs 6500, 1000 bales from Upper Sindh (BCI) at the same rate, 400 bales from Tiba Sultanpur at Rs 6440, 400 bales from Arifwala at Rs 6450, 800 bales from Haroonabad at the same rate, same figure from Bahawalpur at the same rate, 400 bales from Fort Abbas at the same rate, 1200 bales from Hasilpur at Rs 6450-6550, 400 bales from Burewala at Rs 6450, 1200 bales from Faqirwali at Rs 6500, 600 bales from Bahawalpur at the same rate, 600 bales from Ahmedpur at Rs 6600, same figure from Jampur, 800 bales from Tonsa Sharif, 400 bales from Lodhran, 600 bales from Jalalpur, 400 bales from Shujabad all finalised at the same rate, 1000 bales from Sadiqabad at Rs 6650, 400 bales from Layyah, 1000 bales from Rahim Yar Khan, 1200 bales from Rajanpur all sold at Rs 6650, 400 bales from Mohammadpur Dewan at Rs 6700, 600 bales from Bakhar at Rs 6725 and 3800 bales from Mian Wali at Rs 6800, they added.
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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 21.11.2013
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37.324 Kgs 6,450 155 6,605 6,605 NIL
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Equivalent
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40 Kgs 6,912 155 7,067 7,067 NIL
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