Prices held the present levels on the cotton market on Saturday as diminishing stock of quality lint, propelled mills and some exporters to make fresh buying, dealers said. The official spot rate was unchanged at Rs 4,950, dealers said. In the ready session, around 14,000 bales of cotton changed hands between Rs 4375 and Rs 5200, they said.
Prices of seed cotton in Sindh were unchanged at Rs 1800 and 2300 while in the Punjab phutti rates showed slight gains at Rs 2000 and Rs 2550, dealers said. According to the market sources, in the recent sessions, mills and exporters came ahead to finalise deals on hovering fears of falling stock of fine quality. They said that slight improvement was seen in supply of gas and electricity in the Punjab, this is an important role behind revival of buying by mills and spinners. Besides, exports to the European Union (EU) rose 20 percent, giving an impression that the further improvement is likely in times to come, cotton analyst, Naseem Usman said.
Reuters adds: ICE cotton ended nearly flat after a choppy trading session on Friday, as low certified stock levels blunted pressure from a US export sales report showing a sharp jump in cancellations. The most-active May cotton contract on ICE Futures US dipped 0.03 cent, or less than 0.1 percent, to settle at 64.66 cents a lb.
The following deals reported: 400 bales from Sanghar sold at Rs 4375, 600 bales from Liaquatpur at Rs 4950, 400 bales from Shahdadpur at Rs 4900, 800 bales from Kabbirwala at Rs 4800-5100, 600 bales from Kot Banglo at Rs 4700, 400 bales from Faqirwali at Rs 4825-4950, 400 bales from Rohri at Rs 4700, 500 bales from Haroonabad at Rs 4850, 200 bales from Ghotki at Rs 5100, 200 bales from Maroot at Rs 4865, 200 bales from Toba Tek Singh at Rs 4500, 800 bales from Chichawatni at Rs 4875-4950, 200 bales from Vehari at Rs 4500, 200 bales from Chani Goth at Rs 4950, 400 bales from Jalalpur at Rs 4800, 400 bales from Yazman Mandi at Rs 5000, 1000 bales from Rahim Yar Khan at Rs 5050-5100, 2000 bales from Bahawalpur at Rs 5000, 400 bales from Hasilpur at Rs 4800, 1200 bales from Khanewal at Rs 5100, 600 bales from SDK at Rs 5100, 400 bales from Mianwali at Rs 5200 and 600 bales from Fort Abbas at Rs 4800-4865, they added.
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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 1-1/32"
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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 20.02.2015
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37.324 Kgs 4,950 150 5,100 5,100 NIL
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Equivalent
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40 Kgs 5,305 160 5,465 5,465 NIL
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