Volume of business extended on the cotton market on Tuesday despite sustained rise in the fine quality, dealers said. The official spot rate was up by Rs 50 to Rs 8650, they added. Prices of seed cotton in Sindh were at Rs 3800-4200, in the Punjab seed cotton prices were at Rs 3800-4300 and in Balochistan, rates of seed cotton were at Rs 3800-4500, they said.
In the ready session, approximately 30,000 bales of cotton changed hands between Rs 8200-8800, they said. Market sources said that expectations of improvement in the textile sector, encouraged mills to make forward deals. Cotton analyst, Naseem Usman said that availability of fine lint cotton is looking some difficult, so the buyers were not taking sign of relief. Besides, continued increase in the world market.
The rates of cotton futures in the US, Chinese and Indian markets were lower in the process of trading activity, they said.
The following deals reported: 1000 bales of cotton from Sanghar at Rs 8350/8400, 1200 bales from Shahdadpur at Rs 8350-8400, 1400 bales from Tando Adam at Rs 8350-8400, 2000 bales from Khairpur at Rs 8750/8800, 3000 bales from Nawabshah at Rs 8500/8600, 1600 bales from Saleh Pat at Rs 8800, 1400 bales from Rohri at Rs 8750/8800, 400 bales from D.G.Khan at Rs 8700/8750, 1200 bales from Khanpur at Rs 8725/8800, 1200 bales from Rahim Yar Khan at Rs 8800, 1000 bales from Sadiqabad at Rs 8800, 2400 bales from Liaquatpur at Rs 8725/8800, 400 bales from Chani Goth at Rs 8800, 400 bales from Lodhran at Rs 8700, 1000 bales Jalalpur at Rs 8750-8800, 2200 bales from Yazman Mandi at Rs 8650/8750, 400 bales from Uch Sharif at Rs 8750, 200 bales from Fort Abbas at Rs 8700, 600 bales from Rajanpur at the same rate, 400 bales from Ahmedpur East at Rs 8650, 400 bales from Mianwali done at the same rate, 200 bales from Layyah at Rs 8600, 3000 bales from Haroonabad at Rs 8500/8550, 600 bales from Chistian at Rs 8400/8450, same figure from Hasilpur at Rs 8500/8550 and 1000 bales from Faqeerwali at Rs 8400/8450, 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 15-10-2018
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37.324 kg 8,650 160 8,810 8,760 + 50/-
Equivalent
40 kgs 9,270 171 9,441 9,388 + 53/-
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