Depress condition persisted on the cotton market on Monday despite the purchasing of cotton by the Trading Corporation of Pakistan (TCP), dealers said. The official spot rate maintained overnight level at Rs 4,800, they added. In the ready session, around 20,000 bales of cotton changed hands between Rs 4600-5100, they said. In Sindh, rates were at Rs 1600 and Rs 2400, in Punjab prices were at Rs 2200 and Rs 2600, they said.
Some brokers said that present condition in the market is not much different against the last other sessions. There were rising expectations that prices to show significant improvement after the TCP's purchasing but expectations are fading with the passage of time, other analysts said. Cotton analyst, Naseem Usman said that in fact all the major buyers are lack of buying interest, causing gradual fall in demand and prices, as well as.
The following deals reported: 400 bales of cotton from Vindar at Rs 4600, 400 bales from Kandiyro at Rs 4600, 600 bales from Rasoolabad at Rs 4700, 1000 bales from Upper Sindh at Rs 4800/4850, 400 bales from Fort Abbas at Rs 4800, 600 bales from Hasilpur at Rs 4800, 1000 bales from Haroonabad at Rs 4825, 400 bales from Multan at Rs 4850, 1000 bales from Gojra at Rs 4850, 400 bales from Basti Malook at Rs 4900, 800 bales from Bahawalpur at Rs 4900/4950, 400 bales from Pir Mehal at Rs 4925, 800 bales from Noorpur at Rs 4950, 2400 bales from Layyah at Rs 4950, 200 bales from Karor Lal at Rs 4950, 1400 bales from Muhammadpur at Rs 5000, 2000 bales from Sadiqabad at Rs 5000, 2200 bales from Rahim Yar Khan at Rs 5000, 1000 bales from Mianwali at Rs 5075-5100, 400 bales from Jatoi at Rs 5100 and 400 bales from Sheher Sultan at Rs 5100, they said.
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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 01.12.2014
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37.324 Kgs 4,800 150 4,950 4,950 NIL
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Equivalent
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40 Kgs 5,144 160 5,304 5,304 NIL
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