Prices maintained firm posture on the cotton market on Monday in the process of modest trade, dealers. The official spot rate was unchanged at Rs 6100, they said. In the ready session over 2000 bales of cotton were finalised at Rs 6250, they said. In Sindh, seed cotton prices were at Rs 3200-3250, they said.
Commenting on the present trend in the market, cotton analyst, Naseem Usman said that some leading buyers were on the side lines to keep a watch over the present developments in the country but on the other hand, needy mills and spinners lay hands over the fine quality.
Other brokers said that the present monsoon rains playing a vital role in stabilising the trend in the market. The following deals reported: 400 bales of cotton from Sanghar, 600 bales from Mirpurkhas, 400 bales from Hyderabad and 600 bales from Tando Adam, all finalised at Rs 6250, they 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 1-1/16"
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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 08.07.2017
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37.324 kg 6,100 135 6,235 6,235 NIL
Equivalent
40 kgs 6,537 145 6,682 6,682 NIL
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