Steady arrivals of quality lint, helped the rates to sustain present levels on the cotton market on Friday, dealers said. The official spot rate was unchanged at Rs 6050, dealers said. Phutti rates in Sindh were at Rs 2700-3150 and in Punjab prices of Phutti improved at Rs 3100-3250, as per 40 kg, they said.
In ready business, over 50,000 bales of cotton changed hands between Rs 5775-6325, they said. According to market sources large arrivals of quality lint propelled buyers to make deals in a big way. Cotton analyst, Naseem Usman said that despite higher arrivals of Phutti were firm but sharp decline in NY cotton futures may hurt the local bullish sentiments. As a whole, prices were soft in the international market owing to steady supply, he said.
Reuters adds: Cotton futures fell nearly two percent on Thursday after touching their highest level in about a month earlier in the session, dragged down by harvest pressure in the United States and a stronger dollar. The following deals reported: 1000 bales from Tando Adam at Rs 5775/5800, 2000 bales from Nawabshah at Rs 6050/6075, 200 bales from Kazi Ahmed at Rs 6075, 200 bales from Daulatpur at Rs 6100, 1000 bales from Moro at Rs 6100/6150, 5000 bales from Khairpur at Rs 6200/6250, 2600 bales from Rohri at Rs 6200/6250, 3000 bales from Salehpat at Rs 6200/6250, 400 bales from Khanpur Mehar at Rs 6275, 400 bales from Mirpur Mathilo at Rs 6075, 400 bales from Pir Mehal at Rs 6050, 800 bales from Chistian at Rs 6250/6300, 4200 bales from Bahawalpur at Rs 6250/6300, 1200 bales from Fort Abbas at Rs 6250/6300, 400 bales from Bahawal Nagar at Rs 6275, 400 bales from Burewala at Rs 6275, 200 bales from Samundri at Rs 6275, 4800 bales from Haroonabad at Rs 6275/6325, 2600 bales from Mianwali at Rs 6275/6300, 1600 bales from Hasilpur at Rs 6275/6300, 600 bales from Chichawatni at Rs 6275/6300, 800 bales from Jalalpur at Rs 6300, 1200 bales from Khanewal at Rs 6300, 1600 bales from Kot Addu at Rs 6300, 1000 bales from Layyah at Rs 6300, 1400 Rahim Yar Khan at Rs 6300, 800 bales from Sadiqabad at Rs 6300, 1600 bales from Shujabad at Rs 6300, 1400 bales from Tonsa Sharif at Rs 6300, 800 bales from Vehari at Rs 6300, 800 bales from Yazman Mandi at Rs 6300, 2200 bales from Shadan Lund at Rs 6300, 400 bales from Dunyapur at Rs 6300, 600 bales from Alipur at Rs 6300, 1000 bales from Ahmedpur at Rs 6300, 2600 bales from Rajanpur at Rs 6300/6325, 600 bales from Faqirwali at Rs 6300/6325 and 600 bales from Arifwala at Rs 6300/6325, 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 20-10-2016
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37.324 kg 6,050 135 6,185 6,185 NIL
Equivalent
40 kgs 6,484 145 6,629 6,629 NIL
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