Cotton market: Small mills take interest in fresh deals

Small mills took interest in fresh deals on the cotton market on Monday in the process of trading activity, dealers said. The official spot rate was unchanged at Rs 8000, they added. In ready session, about 9000 bales of cotton changed hands between Rs 7700-8365, they said. Rates of seed cotton per 40kg in Sindh were at Rs 3400-3700, in Punjab prices were at Rs 3200-3800, they said. In Balochistan, seed cotton prices were at Rs 3600-3700, they said.
In Sindh, Binola prices per maund were at Rs 1400-1550 and in Punjab rates were at Rs 1550-1650, they said and adding that polyester fibre per kg rates were at Rs 180.
Market sources said that leading mills were on the sidelines due to quality factor. Cotton quality hit by recent monsoon rains in the country.
Commenting on the rains in the country, cotton analyst, Naseem Usman said that trading activity failed to pick up as seed cotton arrivals were disrupted by rains.
The following deals reported: 1200 bales of cotton from Shahdadpur at Rs 7800/7900, 1800 bales from Tando Adam at Rs 7750/7900, 600 bales from Shahpur Chakar at Rs 7800, 400 bales from Maqsoodo Rind at Rs 7800, 200 bales from Jhole at Rs 7750, 1000 bales from Hyderabad at Rs 7750/7800, 1400 bales from Sanghar at Rs 7700/7900, 200 bales from Tando Muhammad Khan at Rs 7700, 1000 bales from Vehari at Rs 8365, 400 bales from Chachawatni at Rs 8350, 600 bales from Haroonabad at Rs 8350 and 600 bales from Bahawal Nagar at Rs 8300, 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"

                    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 31-08-2019

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37.324 kg          8,000      160        8,160         8,160            Nil

Equivalent

40 kgs             8,574      171        8,745         8,745            Nil

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