Prices moved up further on the cotton market on Saturday in the process of moderate trading, dealers said. The official spot rate picked up more Rs 50 to Rs 8250, they added. Prices of seed cotton in Sindh maintained overnight levels at Rs 3700-3900, in the Punjab rates followed the same pattern showing no change at Rs 3500-3800, and in Balochistan, prices of seed cotton were at Rs 3800-4000, they said.
In ready session, around 18,000 bales of cotton finalised between Rs 8150-8400, they said. According to the market sources, mills and exporters' buying of quality cotton pushed the rate further higher and it looks that rates of fine type may increase in the coming days despite easy supply of seed cotton. They said that there are higher anticipations for cotton production this year.
Cotton analyst, Naseem Usman said that most of the mills and exporters were trying to lay hands over the fine type to replenish their stock.
In the meantime, the Cotton Crop Assessment Committee (CCAC) to meet on 12 of this month to analyse the cotton production, he added. Cotton prices moved both ways in the international markets, he added. The following deals reported: 1200 bales of cotton from Shahdadpur at Rs 8200/8250, 1000 bales from Tando Adam at Rs 8175/8225, 800 bales from Sanghar at Rs 8150/8200, 1200 bales from Nawabshah at Rs 8200/8250, 400 bales from Hala at Rs 8200, 200 bales from Khadro at Rs 8200, 200 bales from Maqsoodo Rind at Rs 8200, 400 bales from Khairpur at Rs 8250, 2200 bales from Khanewal at Rs 8300/8400, 600 bales from Mian Channu at Rs 8350/8400, 400 bales from Chichawatni at Rs 8400, 200 bales from Rajanpur at Rs 8400, 400 bales from Ahmedpur East at Rs 8400, 200 bales from M. Pur Dewan at Rs 8400, 1400 bales from Haroonabad at Rs 8250/8350, 600 bales from Faqeerwali at Rs 8250/8300, 400 bales from Vehari at Rs 8300, 200 bales from Bakhar at Rs 8275, 2600 bales from Burewala at Rs 8300/8350, 200 bales from Tonsa Sharif at Rs 8300/8375 and0 bales from Kabirwala at Rs 8300/8400, 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 07-09-2018
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37.324 kg 8,250 160 8,410 8,360 + 50/-
Equivalent
40 kgs 8,841 171 9,012 8,959 + 53/-
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