A firm trend prevailed on the cotton market on Friday in the process of hectic trading, dealers said. The official spot rate was higher by Rs 50 to Rs 5975, dealers said. Phutti rates in Sindh were firm at Rs 2900-3125, they said. In the Punjab seed cotton prices were at Rs 2900-3200, as per 40 kg, they said.
In ready business, approximately, 20,000 bales of cotton changed hands between Rs 5800 and Rs 6250, they said. Cotton analyst, Naseem Usman said that mills and spinners were busy in laying hands on the fine type to replenish their stock. Commenting on the sustained buying by mills, he said that arrivals were in full swing but growers and ginners were fearful about the quality of cotton because of slight damages to the crop owing to the unfavourable weather condition in the country. Additionally, one of the leading factors behind the firm trend in the market was higher trend in the international market, particularly NY cotton futures, other brokers said.
Reuters adds: Cotton futures hit their highest level in more than two weeks on Thursday, on a weaker dollar and follow-through buying after a bullish World Agricultural Supply and Demand Estimates report pushed prices up over 3 percent on Wednesday. The following deals reported: 1000 bales from Sanghar at Rs 5800/5850, 800 bales from Tando Adam at Rs 5800/5850, 1000 bales from Shahdadpur at Rs 5800/5950, 1000 bales from Nawabshah at Rs 6100, 1600 bales from Rohri at Rs 6160/6200, 5000 bales from Khairpur at Rs 6175/6200, 1600 bales from Saleh Pat at Rs 6200, 400 bales from Khanpur Mehar at Rs 6200, 600 bales from Faqirwali at Rs 6175/6250, 200 bales from Arifwala at Rs 6190, 2000 bales from Lodhran at Rs 6195/6250, 200 bales from Gojra at Rs 6200, 400 bales from Bahawalpur at Rs 6200, 400 bales from Rajanpur at Rs 6200, 400 bales from Shujabad at Rs 6200, 400 bales from Alipur at Rs 6200, 1200 bales from Burewala at Rs 6200, 400 bales from Jahanian at Rs 6200, 800 bales from Fort Abbas at Rs 6200/6250, 1600 bales from Layyah at Rs 6200/6250, 1400 bales from Rahim Yar Khan at Rs 6200/6250, 1000 bales from Hasilpur at Rs 6200/6250, 2300 bales from Haroonabad at Rs 6200/6250, 1000 bales from Yazman Mandi at Rs 6200/6250, 400 bales from Bahawal Nagar at Rs 6200/6250, 600 bales from Ahmedpur at Rs 6200/6250, 400 bales from Vehari at Rs 6200/6250, 1600 bales from Khanewal at Rs 6200/6250, 600 bales from Chichawatni at Rs 6200/6250, 400 bales from Mian Chano at Rs 6200/6250 and 600 bales from Chistian at Rs 6200/6250, 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 13-10-2016
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37.324 kg         5,975        135        6,110        6,060            +50
Equivalent
40 kgs            6,403        145        6,548        6,495            +53
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