In the local cotton market some trading activity was witnessed after the easing of long lockdown.
Market sources said that some mills started their operations partially. Ginners had the stock of 5 lac bales while delivery of imported cotton is continuously going on.
Cotton Analyst Naseem Usman told that there are two conflicting opinions regarding the Cotton Support price. Ginners and farmers are of the view that government should announce the support price of cotton before the ending of sowing season which is May 31 after that any announcement will not be beneficial for increasing the production of cotton. On the All Pakistan Textile Mills Association is not in favour of announcement of cotton support price.
Naseem said that cotton production can only be enhanced if cultivation area of cotton will be increased as well as good quality seeds will be provided to the farmers.
Naseem Usman said that Spot Rate remained unchanged at Rs 8600 per maund. The rate of cotton in Sindh and Punjab is in between Rs 7000 to Rs 8600 per maund. The polyester fiber was available at Rs 157 per kg.
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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"
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 15-05-2020
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37.324 kg 8,600 160 8,760 8,760 NIL
Equivalent
40 kgs 9,217 171 9,388 9,388 NIL
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