Trade activity improved on the cotton market on Monday despite slow supply of seed cotton, dealers said. The official spot rate was unchanged at Rs 5,500, dealers said. In Sindh, low type of seed cotton price rose by Rs 100 to Rs 3000 and better quality was up by Rs 150 to Rs 3200, per 40 kg, they said. In ready session, over 3000 bales of cotton changed hands between Rs 5225 and Rs 5825, they said.
According to the market, slow arrivals of seed cotton propelled mills and spinners to make deals at higher rates. Cotton analyst, Naseem Usman said more or less eight ginning factories in Sindh and Punjab are operational in the country. Besides, some experts said that sowing in Sindh has been completed and cotton cultivated area in Sindh is 10 percent less as compared to last year, while in Punjab sowing is still under way.
Despite slow arrivals, needy mills and spinners lay hands over the fine quality to meet their demand. The following deals reported: 800 bales from Chotti at Rs 5500-5575, 100 bales from Jalalpur at Rs 5225, 1291 bales from Basti Malook at Rs 5800 (conditional), 700 bales from Kotri at Rs 5800, 100 bales from Shahdadpur at Rs 5825 and same figure from Sanghar at the same rate, dealers 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 11-06-2016
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37.324 kg 5,500 135 5,635 5,635 NIL
Equivalent
40 kgs 5,894 145 6,039 6,039 NIL
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