Modest business was witnessed on the cotton market on Wednesday amid post-holiday session, dealers said. The official spot rate was up by Rs 100 to Rs 7500, they added. In both Sindh and Punjab, seed cotton prices were at Rs 2800-3100, they said. In the ready session, around 9000 bales of cotton changed hands between Rs 6300 and Rs 8000. According to the market sources the ginners indulged in cautious selling of lint cotton as they approximately 2 lacs bales of unsold cotton.
This factor is helping prices to keep present levels, they said and adding that rates may not fall sharply in the near future, other experts said. Cotton analyst, Naseem Usman said that rising demand for quality cotton and short supply were the main reason behind the stable trend. The leading world cotton markets gave higher trend, they said.
To achieve desired cotton production and quality, as well, the Punjab Agriculture Department (PAD) taking preventive measures, presently, it termed the Pink Bollworm as one of the biggest threat for cotton crop in Punjab and decided to distribute Gossipollar Ropes & Sex Pheromone traps among cotton growers belonging to core and secondary cotton area of Punjab.
To save cotton crop against Pink Bollworm attack, Rs 96.2 million will be spent on PB Ropes & Gossipollar Ropes that will installed on 54 Tehsils of Punjab on 50 acre blocks. In Sindh, cotton crop is facing shortage of irrigation water, after sowing cotton, the growers praying for timely rains to compensate the shortage, other analysts said. The following deals were reported: 400 bales of cotton from Rohri at Rs 7000, 7233 bales from Khanpur at Rs 7400-8000, 400 bales from Faqeerwali at Rs 6600 and same figure from Vehari at Rs 6300, they 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 1-1/16"
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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 30-04-2018
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37.324 kg 7,500 145 7,645 7,545 + 100/-
Equivalent
40 kgs 8,038 155 8,193 8,086 + 107/-
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