Slow business activity was witnessed on the cotton market on Monday due to expectations of better than expected cotton production this year, dealers said. The official spot rate was unchanged at Rs 6800, they said. In the ready session, only one deal was of 400 bales of cotton from Rahim Yar Khan sold at Rs 6975, they said. According to the market sources, most of the participants were on the sidelines on arrivals of good cotton production.
Cotton analyst, Naseem Usman said that after heavy rains in India these days, bumper cotton production is likely and may cause slight fall in present rates. As a whole, trend in the world is easy, he added.
===========================================================================
The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
---------------------------------------------------------------------------
FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"
---------------------------------------------------------------------------
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
===========================================================================
Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
on 10.06.2017
===========================================================================
37.324 kg 6,800 135 6,935 6,935 Nil
Equivalent
40 kgs 7,288 145 7,433 7,433 Nil
===========================================================================
Comments
Comments are closed.