High flow of phutti arrivals failed to dent tempo of rising lint cotton prices on the cotton market on Monday, dealers said. The official spot rate was inert at Rs 6150, they said. In the ready session, over 40,000 bales of cotton changed hands between Rs 5500-6350, they said. In Sindh seed cotton prices rose by Rs 100 to Rs 2700-3100, in the Punjab rates were unchanged at Rs 2900-3200, as per 40 kg, they said. Cotton analyst, Naseem Usman said that higher trend in rates persisted on strong buying by mills and spinners.
Locally, prices are almost on rising trend due to quality factor, he added. He predicted that prices may touch new high at Rs 6500. In Indian, prices of cotton went up, giving an impression that rate of cotton to gain momentum in the coming days, experts said. They said that Modi government has given some incentives to cotton growers at Diwali.
The following deals were reported to have hanged hands on the ready counter: 1000 bales of cotton from Tando Adam at Rs 5500/5900, 400 bales from Shahdadpur at Rs 5800, 4000 bales from Khairpur at Rs 6225/6275, 2000 bales from Rohri at Rs 6250/6300, 2000 bales from Saleh Pat at Rs 6300, 2000 bales from Ghotki at Rs 6350/6400, 200 bales from Chistian at Rs 6140, 400 bales from Jhang at Rs 6150, 400 bales from Bakhar at Rs 6150, 400 bales from Bahawal Nagar at Rs 6150, 400 bales from Duniapur at Rs 6150, 1200 bales from Hasilpur at Rs 6150/6175, 1600 bales from Karoor Pakka at Rs 6175, 1600 bales from Fort Abbas at Rs 6175, 300 bales from Haroonabad at Rs 6150/6200, 400 bales from Vehari at Rs 6200, 400 bales from Mian Chano at Rs 6200, 400 bales from Burewala at Rs 6200, 3600 bales from Mianwali at Rs 6200/6250, 400 bales from Multan at Rs 6250, 600 bales from Alipur at Rs 6250, 2000 bales from Khanewal at Rs 6250/6275, 1600 bales from Ahmedpur at Rs 6250/6300, 1000 bales from Dera Ghazi Khan at Rs 6300, 800 bales from Chani Goth at Rs 6300, 400 bales from Lodhran at Rs 6300, 600 bales from Yazman Mandi at Rs 6300, 800 bales from Khanpur at Rs 6300, 1400 bales from Fazilpur at Rs 6300, 1000 bales from Muhammadpur Dewan at Rs 6300, 1400 bales from Rajanpur at Rs 6300, 3400 bales from Rahim Yar Khan at Rs 6300/6350 and 400 bales from Liaquatpur at Rs 6350, 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 21-10-2017
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37.324 kg 6,150 145 6,295 6,295 NIL
Equivalent
40 kgs 6,591 155 6,746 6,746 NIL
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