Trading activity came down on the cotton market on Monday ahead of holiday in observance of Qaid-e-Azam birth day and Chirstmas, dealers said. Official spot rate was unchanged at Rs 6000, they said. In ready business, above 11,000 bales of cotton finalised between Rs 5800 and Rs 6100, they said.
Prices of cottonseed (phutti) low type was down by Rs 100 to Rs 2300 while the best type was unchanged at Rs 2700 and in Punjab rates of inferior type was dropped by Rs 50 to Rs 2400 while the good type was up by Rs 50 to Rs 2800, they said. Markets sources said that some mills kept on the sideline in anticipation due to high prices and hoping for decline in the rates. In meeting Sunday's meeting All Pakistan Textile Mills Association (APTMA) expressed their concern over the shortage supply of gas and power and said several mills are near to close in the county, so they may give strike call countrywide against this ugly act.
Commenting on the Aptma's strike call, cotton analyst, Naseem Usman said that this factor is creating jobless and more poverty among the masses. The following deals were reported: 800 bales of cotton from Khair Pur (BCI) at Rs 6100, 3000 bales from Upper Sindh (BCI) at Rs 6100, 400 bales from Jahnian at Rs 5800, 400 bales from Marot at Rs 5850, 400 bales from Bahawalpur at Rs 5850, 200 bales from Khichi Wala at Rs 5850, 200 bales from Faqir Wali at Rs 5850, 400 bales from Chistian at Rs 5825, 1000 bales from Khanewal at Rs 5875, 400 bales from Gojra at Rs 5875, 400 bales from Fort Abbas at Rs 5900, 200 bales from Vehari at Rs 5900, 400 bales from Haroonabad at Rs 5900, 400 bales from Dera Ghazi Khan at Rs 6000, 1000 bales from Rahim Yar Khan at Rs 6000-6050, 1000 bales from Sadiqabad at Rs 6000-6100, 400 bales from Rajanpur at Rs 6100 and 400 bales from Mianwali at Rs 6100, they said.
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The KCA Official Spot Rate for Local Dealings in Pak Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
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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 22.12.2012
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37.324 Kgs 6,000 155 6,155 6,155 NIL
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Equivalent
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40 Kgs 6,430 155 6,585 6,585 NIL
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