Hike in petroleum prices likely to push rates of phutti cotton further up owing to an increase in cost of production, dealers said on the local market on Monday. The official spot rate gained Rs 100 to Rs 7,700, they added. Prices of seed cotton in Sindh were at Rs 3800-3900, they said. In the Punjab, rates of phutti were at Rs 3500-4000, they added.
In ready session, several hundreds of bales of cotton finalised between Rs 6900 and Rs 8175, they said. In Sindh, rates of 600 bales of cotton were at Rs 8100-8150 and in Punjab, 400 bales from various stations, prices finalised at 8250-8300, they said.
Market sources said that pre-monsoon rains are almost stopped, so it looks that stagnant water in the field is not good for the standing crop. Cotton analyst Naseem Usman said that rains have temporally halted picking operation, which caused more rise in the cotton rates. Now, it looks that trading activity may pick up as rains temporally stopped, they said.
In the international market, prices of cotton moved both ways in the process of trading, they said. Following deals reported: approximately 200 bales of cotton from Tando Adam sold at Rs 8150, same figure from same station done at Rs 8175, same figure from Shahdadpur finalised at Rs 8100, 200 bales from Sanghar at Rs 8150 and 200 bales from Kabirwala at Rs 6900, 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 1-1/16"
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                                    MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
Rate              Ex-Gin   Upcountry   Spot Rate    Spot Rate    Difference
                    For      Price     Ex-Karachi  Ex. KHI. As   Ex-Karachi
                                                  on 30-06-2018
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37.324 kg         7,700       145        7,845         7,745        + 100/-
Equivalent
40 kgs            8,252       155        8,407         8,300        + 107/-
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