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Prices of seed cotton improved modestly on the cotton market on Thursday amid tight supply, dealers said. The official spot rate was down by Rs 50 to Rs 4,450, dealers said. Seed cotton prices in Sindh were at Rs 2300 and Rs 2450 and in Punjab rates at Rs 2200 and Rs 2350, they said. In the ready business, over 9,000 bales of cotton changed hands between Rs 4525 and Rs 4600, they said.

Cotton crop (August 2015 / July 2016) is going through a steady phase and some arrivals from Sindh were being delayed awaiting proper opening of the bolls. Seedcotton (Kapas / Phutti) equivalent to 25,000 lint bales (155 Kgs) is reportedly arriving into the ginning factories daily. The quality of lint from Sindh is reported to be good while the Punjab quality is also said to be improving.
ICE cotton futures rebounded on Thursday after hitting a two-week low in the prior session, bouncing back from three consecutive sessions of losses on support from sharp rallies in equities and other commodity markets. "We needed to have such a move after three sharp down moves," said Chris Kramedjian, a risk management consultant with INTL FCStone in Memphis, Tennessee. "Oil's up, and you've got a rally in soybeans and corn. It looked like a total risk-on day all over again."
The fluctuations observed during the day:

Central Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A Khokhar has underscored the need of formulating sector wise trade polices for bringing big boost in exports of the country. Expressing his satisfaction on new Trade Policy and urged upon the government to implement it in letter and spirit to cope with global challenges as well as to ensure considerable increase in export volume.
Rates maintained firm trend on the cotton market on Wednesday as growers stopped selling at current prices on expectations of increase in prices in the near future, dealers said. The official spot rate was unchanged at Rs 4,500, dealers said. Seed cotton prices in Sindh were at Rs 2300 and Rs 2350 and in Punjab rates at Rs 1800 and Rs 2250, they said. In the ready business, over 13,000 bales of cotton changed hands between Rs 4500 and Rs 4575, they said.
ICE cotton futures hit a two-week low on Wednesday despite a rebound in global equities, suggesting supply concerns prompted by a bullish US government crop report two weeks ago are evaporating. "We're really coming to terms with [the fact that] the Texas crop is not as small as they think," said Keith Brown, a Moultrie, Georgia-based cotton trader, referring to the United States' top-producing state. "The fact that we're not responding to the stock market suggests cotton's looking at something else."

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln