The trading activity came down on the cotton market on Monday as seed cotton arrivals still low due to several factors, dealers said. The official spot rate was unchanged at Rs 6,650, dealers said. In Sindh, seed cotton prices were down modestly at Rs 3400-3525 and in Punjab rates of Phutti, also slipped at Rs 2900-3300, as per 40 kg, they said.
In ready business, around 2300 bales of cotton changed hands between Rs 6750 and Rs 7000, they said.
According to market sources, Hindu festival in Sindh and recent rains in the country causing a hurdle in picking operation in the absent of women pickers.
The new spell of rains in Punjab and Sindh has once again affected arrivals of Phutti from cotton fields into the ginneries, they said.
Cotton analyst, Naseem Usman said that non-availability of transport ahead of Eid-ul-Azha, short supply of fine quality of Phutti, besides, more rains in the coming month, keeping mills and spinners under pressure.
So, it is some difficult to say about the size of cotton production this year, he added.
The following deals were reported: 300 bales of cotton from Hala at Rs 6750, 400 bales from Sanghar at Rs 6750, 400 bales from Shahdadpur at Rs 6750/6850, 200 bales from Tando Adam at Rs 6850, 200 bales from Chichawatni at Rs 6950, 400 bales from Khanewal at Rs 7000, 200 bales from Gojra at Rs 7000 and 200 bales from Pak Pattan at Rs 7000, 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 27-08-2016
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37.324 kg 6,650 135 6,785 6,785 NIL
Equivalent
40 kgs 7,127 145 7,272 7,272 NIL
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