Listless activity seen on cotton market

No trading activity was witnessed on the cotton market on Tuesday, some brokers said on phone. The official spot rate was unchanged at Rs 8800, they said. Rate of seed cotton per 40kg in Sindh low quality was at Rs 2800, while the best quality was unchanged at Rs 4100, and in the Punjab prices of low quality were at Rs 2800 while the fine type was available at Rs 4600, they said.
In Sindh, Binola prices per maund were at Rs 1400-1800, in Punjab rates were at Rs 1650-1800, they said and the rate of polyester fibre was at Rs 167 per kg, they added. Cotton analyst Naseem Usman said that lint prices went up in the world market, in the meantime, business activity was listless as traders were away from normal business due to spread of coronavirus, he added.

===========================================================================
The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
---------------------------------------------------------------------------
                     FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"
                    MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
===========================================================================
Rate              Ex-Gin   Upcountry   Spot Rate    Spot Rate    Difference
                    For      Price     Ex-Karachi  Ex. KHI. As   Ex-Karachi
                                                   on  21-03-2020
===========================================================================
37.324 kg         8,800       160         8,960        8,960            NIL
Equivalent
40 kgs            9,431       171         9,602        9,602            NIL
===========================================================================