Prices showed firm trend on the cotton market on Saturday as buyers indulge in fresh deals, dealers said. The official spot rate was unchanged at Rs 8,800, they added. Prices of seed cotton in Sindh improved slightly at Rs 3000-4000, in the Punjab seed cotton prices were at Rs 3300-4000 and in Balochistan, rates of seed cotton were at Rs 3600-4000, they said.
In the ready session, about 14,000 bales of cotton changed hands between Rs 7450-9150, they said.
Commenting on the improvement in the volume of business, they said that the mills managed to make deals on their psychological levels. In the meantime, cotton analyst, Naseem Usman said that trading activity could not pick up sharply as the ginners were not keen in finalising deals at their psychological levels.
He said that ginners were hoping for further increase in the rates due to likely short production during the current year.
As a whole, recession like condition the world over, the cotton economy is facing financial crisis owing to slow off-take of cotton yarn, he added.
According to reports, cotton prices were mixed in the international market.
The following deals reported: 200 bales of cotton from Kotri at Rs 8300, 400 bales from Sakrand at Rs 8600, 2400 bales from Khairpur Mirus at Rs 8650/8700, 800 bales from Saleh Pat at Rs 8700/8750, 5000 bales from Kot Sabzal at Rs 9150, 400 bales from Sadiqabad at Rs 9000, 2400 bales from Rahim Yar Khan at Rs 9000, 1200 bales from Khanewal at Rs 7900, 400 bales from Layyah at Rs 7900, 1000 bales from Rajanpur at Rs 7500, 400 bales from Vehari at Rs 7450/7500, 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 07-12-2018
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37.324 kg         8,800       160         8,960        8,960            NIL
Equivalent
40 kgs            9,431       171         9,602        9,602            NIL
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