Cotton market: Ginners hope for more concessions
In the absence of normal physical activity on the cotton market these days, the ginners were hoping for more effective measures and concessions for better production in near future, some dealers said on Monday.
The official spot rate was unchanged at Rs8800, dealers said.
Rate of seed cotton per 40kg in Sindh low quality was at Rs2800, while the best quality was unchanged at Rs4100, and in the Punjab prices of low quality were at Rs2800 while the fine type was available at Rs4600, they said.
In Sindh, Binola prices per maund were at Rs1400-1800, in Punjab rates were at Rs1650-1800, they said and the rate of polyester fibre was at Rs167 per kg, they added.
As a result of negative effect of coronavirus and non-availability of basic facilities, the cotton growers were expecting for measures by the government to get desired cotton production, other experts said.
Commenting on prevailing economic crisis the world over, cotton analyst, Naseem Usman said that some mills asked their workers that they are not able to pay at month basis due to financial crisis the world over.
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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 04-04-2020
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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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