Sustained buying of fine quality helped the rates to go up further on the cotton market on Saturday in process of trading activity, dealers said. The official spot rate picked up by Rs 50 to Rs 7850, they added. Prices of seed cotton in Sindh were at Rs 3700-3850, in the Punjab seed cotton prices were at Rs 3600-3850 and in Balochistan, rates of seed cotton were at Rs 3700-3900, they said.
In ready session, around 20,000 bales of cotton changed hands between Rs 7400-8100, they said. Some experts were of the opinion that prices stabilised on sustained buying of lint cotton. Cotton analyst, Naseem Usman attributed the rise in rates to panic buying of cotton these days. The dollar is increasing versus the rupee with the passage of time, he said and adding that arrivals of phutti declined slightly, he added.
Besides, the ginners were not taking interest in fresh selling on expectations of more increase in the prices, locally, other brokers said. According to the reports trend in the international market was almost mixed. The following deals reported: 1000 bales of cotton from Shahdadpur at Rs 7600, 800 bales from Tando Adam at Rs 7500/7600, 600 bales from Sanghar at Rs 7400/7500, 2000 bales from Nawabshah at Rs 7750/7800, 1200 bales from Saleh Pat at Rs 8000/8100, 1400 bales from Rohri at Rs 8000, 400 bales from Mirpur Mathilo at Rs 8100, 2000 bales from Khairpur at Rs 7900/8000, 400 bales from Rajanpur at Rs 8100, 400 bales from Alipur at Rs 8000, 200 bales from Choti Zaree at Rs 8000, 200 bales from Jalalpur at Rs 8000, 400 bales from Kabirwala at Rs 8000, 400 bales from Khanpur at Rs 8000, 800 bales from Mianwali at Rs 8000, 2000 bales from Shadan Lund at Rs 8000, 200 bales from Shujabad at Rs 8000, 800 bales from Fort Abbas at Rs 8000, 400 bales from Layyah at Rs 7900/7975, 800 bales from Haroonabad at Rs 7850/7900, 200 bales from Noorpur Nooranga at Rs 7900, 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 05-10-2018
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37.324 kg 7,850 160 8,010 7,960 + 50/-
Equivalent
40 kgs 8,413 171 8,584 8,530 + 54/-
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