Cotton prices maintained a firm posture on the cotton market on Monday in the process of modest trade activity, dealers said. The official spot rate was unchanged at Rs 7500, they added. In the ready session, approximately, 2000 bales of cotton changed hands between Rs 7400-7800, they said. Commenting on the tight supply of lint cotton, cotton analyst, Naseem Usman said that the spinners were still keen to buy lint cotton but they were facing difficulties due to non-availability of the same commodity.
Other analysts said that severe irrigation water shortage gives an impression that next cotton crop may be delayed it's a factor, which is forcing ginners to take time to get better profit. After achieving better cotton production this year, the growers and farmers were praying for rains to get higher-than-expected output during the next season, they said.
In the international market, in China and Indian, the cotton prices move upward due to strong demand, dealers said. The following deals were reported: 200 bales of cotton from Sadiqabad at Rs 7700, 1198 bales from Khanewal at Rs 7400 and 400 bales from Liaquatpur at Rs 7800, 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 05-05-2018
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37.324 kg 7,500 145 7,645 7,645 NIL
Equivalent
40 kgs 8,038 155 8,193 8,193 NIL
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