Business activity came down as tug-of-war between mills and ginners over the rates started on the cotton market on Monday, dealers said. The official spot rate was unchanged at Rs 5,000, they added. In the ready session, around 15,000 bales of cotton changed hands at Rs 4800-5250, they said. In Sindh, rates of seed cotton were firm at Rs 2000 and Rs 2025, in Punjab prices were unchanged at Rs 2400 and Rs 2700, they said.
According to some brokers, ginners were keen to sell at the present rates due to losses, on the other hand, the mills and spinners were looking some shy of some fresh purchasing due to persisting fall in the dollar's rates. Cotton analyst, Naseem Usman said that the ginners were not happy due to low return against the high cost of production. The Trading Corporation of Pakistan (TCP) was busy in contacting with the buyers for fresh purchasing, they said.
They also observed that instead of enjoying about the bumper crop news, the growers and ginners were worried owing to sharp decline in their profits. The following deals reported: 200 bales from Sakrand at Rs 4800, 200 bales from Nawabshah at Rs 4800, 200 bales from Daur at Rs 4800, 200 bales from Bandhi at Rs 4800, 5000 bales from Khairpur at Rs 5000, 1000 bales from Upper Sindh at Rs 5100-5135, 600 bales from Burewala at Rs 5050, 200 bales from Vehari at Rs 5050-5100, 200 bales from Lodhran at Rs 5075, 600 bales from Haroonabad at Rs 5100, 400 bales from Marrot at Rs 5100, 400 bales from Faqirwali at Rs 5100, 1000 bales from Hasilpur at Rs 5100-5150, 200 bales from Dharanwala at Rs 5100, 1000 bales from Gojra at Rs 5125-5200, 800 bales from Fort Abbas at Rs 5125-5200, 400 bales from Galewal at Rs 5150, 2400 bales from Alipur at Rs 5175-5200, 2000 bales from Ahmedpur at Rs 5175-5200, 400 bales from Dera Ghazi Khan at Rs 5200, 200 bales from Rahim Yar Khan at Rs 5200, 400 bales from Muhammadpur Dewan at Rs 5200, 400 bales from Janpur at Rs 5200, 1000 bales from Layyah at Rs 5200-5250, 400 bales from Fazilpur at Rs 5225, 1000 bales from Rajanpur at Rs 5225-5250, 400 bales from Tonsa Sharif at Rs 5250, 400 bales from Shadan Lund at Rs 5250 and 1200 bales from Mianwali at Rs 5250, they added.
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The KCA Official Spot Rate for Local Dealings in Pakistan 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 08.11.2014
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37.324 Kgs 5,000 150 5,150 5,150 NIL
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Equivalent
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40 Kgs 5,358 160 5,518 5,518 NIL
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