Trading activity improved on the cotton market on Thursday as mills showed fresh interest in buying to replenish their stock, dealers said. The official spot rate was unchanged at Rs 8,800, they added. Prices of seed cotton in Sindh were at Rs 3000-3800, in the Punjab seed cotton prices at Rs 3000-3800 and in Balochistan, rates of seed cotton were at Rs 3200-3800, they said.
In the ready session, about 8000 bales of cotton changed hands between Rs 7200-9000, they said.
Market sources said that shortage of quality cotton propelled mills to cover their short position. Poor off-take of cotton is creating uncertainties among the cotton traders, they observed.
The Pakistan Cotton Ginners Association (PCGA) issued it's fortnightly report, showing nearly 10.03 million bales of cotton reached at the country's ginneries.
Besides, according to the data issued by the PCGA, there were total 1300 ginning factories across the country out of which the ginning process was continued in 326 ginning factories including 220 in Punjab province and 106 in Sindh province.
Cotton analyst, Naseem Usman said that trading activity likely to improve in the coming days.
Cotton prices were almost down in the international markets, they said.
The following deals reported: 400 bales of cotton from Tando Adam at Rs 7200, 900 bales from Shahdadpur at Rs 8350, 600 bales from Khairpur Mirus at Rs 8200/8400, 400 bales from Ghotki at Rs 8650/8850, 1000 bales from Rohri at Rs 8600, 400 bales from Saleh Pat at Rs 8600, 200 bales from Mirpur Mathelo at Rs 8650, 400 bales from Sarhad at Rs 8650, 200 bales from Fazilpur at Rs 9000, 600 bales from Haroonabad at Rs 8700, 400 bales from Chistian at Rs 8500, 1000 bales from Fort Abbas at Rs 8000, 200 bales from Maroot at Rs 8100, 600 bales from Bahawal Nagar at Rs 8300/9000, 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 02-01-2019
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37.324 kg 8,800 160 8,960 8,960 NIL
Equivalent
40 kgs 9,431 171 9,602 9,602 NIL
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