Fresh monsoon rains in the country curtailed supply of seed cotton, which helped the rates to sustain present levels, dealers said on the cotton market on Monday. The official spot rate was unchanged at Rs 4600, dealers said. Seed cotton prices in Sindh and Punjab were at Rs 2000-2300, they said. In the ready business, over, 1800 bales of cotton changed hands between Rs 4700 and Rs 4725, they said.
Market sources said that trading activity came down as arrivals of Phutti slowed down because of heavy rains in the country, cotton analyst, Naseem Usman said. He said that rains in interior Sindh has forced many ginners to close down their units due to short supply of Phutti from cotton belt into ginneries.
Some experts said that the rains are beneficial for the standing crop, but if rains prolonged, it could damage the crop. The following deals reported: 400 bales of cotton from Shahdadpur sold at Rs 4700, 200 bales from Matli at the same rate, 600 bales from Tando Adam at 4700-4725 and same figure from Shahdadpur at the same rate, dealers 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 1-1/32"
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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 25.07.2015
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37.324 Kgs 4,600 150 4,750 4,750 NIL
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Equivalent
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40 Kgs 4,930 160 5,090 5,090 NIL
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