Prices showed further decline on the cotton market on Monday in the process of moderate trading activity, dealers said. The official spot rate was unchanged at Rs 5,200, they added. In the ready session, approximately, 21,000 bales of cotton changed hands between Rs 5175 and Rs 5350, they said. In Sindh, rates were lower by Rs 50 to Rs 2100 and Rs 2450, in Punjab prices were down by Rs 200 to Rs 2300 and Rs 2550, they said.
According to the market sources, exporters showed interest in fresh purchasing due to lower rates. Rates of cotton still on decline and likely to continue its present trend because of persistent fall in demand in the international market, cotton analyst, Naseem Usman said.
Reuters adds: China imported 122,900 tonnes of cotton in September, down 39 percent on the same month of last year, said the China Cotton Association, citing customs. For the first nine months of the year, Chinese imports of the fibre have dropped by 38 percent to 2 million tonnes. The world's top cotton consumer has imported less of the fibre this year as higher global prices and limited import quotas forced mills to import yarn instead.
The following deals reported: 2000 bales of cotton from Khairpur sold at Rs 5260, 2000 bales from Upper Sindh at Rs 5200-5250, 200 bales from Mailsi at Rs 5175, 1000 bales from Burewala at Rs 5200, 1000 bales from Haroonabad at Rs 5200, 600 bales from Bahawalnagar at Rs 5200, 400 bales from Chistian at Rs 5200-5250, 400 bales from Vehari at Rs 5225, 600 bales from Daharanwala at Rs 5250, 200 bales from Karampur at Rs 5250, 200 bales from Duniyapur at Rs 5250, 200 bales from Donga Bonga at Rs 5250, 600 bales from Lodhran at Rs 5250, 2000 bales from Tonsa Sharif at Rs 5250, 1000 bales from Dera Ghazi Khan at Rs 5250, 200 bales from Khichi Wala at Rs 5250, 400 bales from Dera Ghazi Khan at Rs 5275, 1000 bales from Ahmedpur at Rs 5250, 200 bales from Jahania at Rs 5265, 1000 bales from Layyah at Rs 5275, 400 bales from Alipur at Rs 5275, 200 bales from Head Bakhani at Rs 5275, 200 bales from Shujabad at Rs 5275, 200 bales from Shadan Lund at Rs 5275, 1600 bales from Rajanpur at Rs 5275-5300, 1000 bales from Khanewal at Rs 5300, 400 bales from Bakhar at Rs 5300, 400 bales from Jampur at Rs 5325 and 400 bales from Mianwali at Rs 5350, 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 18.10.2014
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37.324 Kgs 5,200 155 5,350 5,350 NIL
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Equivalent
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40 Kgs 5,573 155 5,733 5,733 NIL
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