Official spot rates dipped on the cotton market on Tuesday in the process of improved trading activity, dealers said. The official spot rate lost Rs 300 to Rs 9100, they added. Prices of seed cotton in Sindh gained Rs 100 to Rs 4100-4400 in the Punjab, rates were up by Rs 100 to Rs 3900 and Rs 4300, they said. In Balochistan, prices of seed cotton were almost unchanged at Rs 4200-4400, they said.
In ready session, over 12,000 bales of cotton finalised between Rs 9150-9300, they said. Market sources said that cotton prices went up sharply during the last month, so the rates are now adjusting at the realistic levels. Arrivals of seed cotton improved and it appeared that supply will increase with every passing day, they said.
Whereas, cotton analyst, Naseem Usman said that cotton prices likely to come down slightly due to said reason. Mills were active in fresh buying and were trying to lay hands over the fine quality to meet their export consignments, he added. He also said that rates moved up in the international markets.
Following deals reported: 3000 bales of cotton from Tando Adam at Rs 9150-9300, 1200 bales from Shahdadpur at Rs 9200-9300, 1200 bales from Sanghar at Rs 9175-9250, 400 bales from Mirpurkhas at Rs 9250, 1000 bales from Hyderabad at Rs 9200-9250, 200 bales from Khadro at Rs 9250, 1200 bales from Burewala at Rs 9175-9200, 1000 bales from Vehari at Rs 9200, 800 bales from Haroonabad at Rs 9200, 800 bales from Chichawatni at Rs 9300, 400 bales from Mian Channu at Rs 9300, 200 bales from Hasilpur at Rs 9200 and 200 bales from Gojra at Rs 9275, they added.
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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 06-08-2018
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37.324 kg 9,100 160 9,260 9,560 - 300/-
Equivalent
40 kgs 9,752 171 9,923 10,245 - 322/-
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