Persistent demand by mills and spinners, helped the rates to hold present levels on the cotton market on Saturday, dealers said.
The official spot rate was unchanged at Rs 5200, dealers said. In the ready session, around 5,000 bales of cotton changed hands between Rs 4850 and Rs 5450, they said.
The prices of seed cotton in Sindh were at Rs 1800 and Rs 2400 and in Punjab rates were at Rs 2000 and Rs 2800, they said.
Cotton analyst, Naseem Usman said most of the spinners were active in finalising fresh deals to replenish their stock to meet the requirement.
Rising trend in the world market is also a solid factor behind the firmness of prices, other brokers said.
The following deals reported: 200 bales of cotton from Noabad at Rs 4200, same figure from Tando Adam, 2400 bales from Hasilpur at Rs 4850, 400 bales from Chichawatni at Rs 4900, 200 bales from Dunyapur at the same level, same figure from Multan at Rs 5100, 1000 bales from Rahim Yar Khan at Rs 5275-5450 and 600 bales from Sadiqabad at Rs 5300 and Rs 5450, 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 03.04.2015
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37.324 Kgs 5,200 150 5,350 5,350 NIL
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Equivalent
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40 Kgs 5,573 160 5,733 5,733 NIL
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