Prices improved on the cotton market on Monday on rising demand by mills and spinners, dealers said. The official spot rate was unchanged at Rs 6350, they said. In the ready session over 6000 bales of cotton changed hands between Rs 6350-6700, they said. In Sindh, seed cotton rates picked up Rs 200 were at Rs 2600-3200 per 40 kg, they said. In the Punjab, phutti prices were available at Rs 3000-3400, they said. Cotton analyst, Naseem Usman said that prices and arrivals of seed cotton improved during the monsoon rains.
He also said that farmers must be cautious about the negative impacts of rains over the standing crop. Some analysts said that high content of moisture can effect over the quality. Rising trend in seed cotton with better quality is an indication that cotton production may touch 13 million bales this season, he added. Arrivals of phutti likely to improve in the coming days, besides, demand is also increasing by the buyers with the passage of time, other brokers said.
The following deals reported: 800 bales of cotton from Sanghar at Rs 6350, 600 bales from Hyderabad, 1400 bales from Tando Adam, 1600 bales from Shahdadpur, 800 bales from Kotri, 600 bales from Sinjoro all finalised at the same rates, 200 bales from Vehari at Rs 6675, 200 bales from Burewala at Rs 6700 and 100 bales from Chichawatni at the same prices, 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 29.07.2017
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37.324 kg 6,350 135 6,485 6,485 NIL
Equivalent
40 kgs 6,805 145 6,950 6,950 NIL
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