Modest trading activity was seen on the cotton market on Thursday as most the participants were on the sideline due to lack of buying interest, dealers said. The official spot rate was at Rs 8,700, they added. Prices of seed cotton in Sindh were at Rs 3000-4000, in the Punjab seed cotton prices at Rs 3200-4000 and in Balochistan, rates of seed cotton were at Rs 3600-3900, they said.
In the ready session, about 3000 bales of cotton changed hands between Rs 7400 and Rs 8525, they said. Market sources were of the opinion that cotton business is facing dullness locally another factor which is causing slow trading in the cotton business is the year bank closing. Cotton analyst, Naseem Usman said that cotton trading may improve in the coming days. According to the reports rates of cotton were mixed in the international markets. The following deals reported: 2000 bales of cotton from Khairpur Mirus at Rs 8525 and 1000 bales from Mianwali at Rs 7400, 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 26-12-2018
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37.324 kg         8,700       160        8,860         8,860            NIL
Equivalent
40 kgs            9,324       171        9,495         9,495            NIL
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