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Prices moved up slightly on the cotton market on Friday amid improved buying by the mills and spinners, dealers said. The official spot rate was unchanged at Rs 4700, dealers said. In the ready session, around 7,000 bales of cotton changed hands between Rs 4000 and Rs 4975, they said. The seed cotton rates in Sindh at Rs 1600 and Rs 2300, in Punjab prices were at Rs 1700 and Rs 2500, they said.

ICE cotton rose for the fourth straight session on Thursday on a third consecutive strong US export sales report, though gains were modest due to pressure from a strong US dollar and weakness across the commodities complex. The most-active front-month March cotton contract on ICE Futures US rose 0.13 cent, or 0.2 percent, to settle at 59.57 cents a lb.
The fluctuations observed during the day:

Members of Pakistan Readymade Garments Manufacturers & Exporters Association (Prgmea) have said the value-added textile sector is facing serious financial crisis, because more than Rs 205 billion of the value-added textile chain has been stuck up with the government.
Prices showed slight fluctuations on the cotton market on Thursday in the process of subdued trading, dealers said. The official spot rate was unchanged at Rs 4,700, dealers said. In the ready session, around 3,000 bales of cotton changed hands between Rs 4,500 and Rs 4,950, they said. The seed cotton rates in Sindh at Rs 1600 and Rs 2300, in Punjab prices were at Rs 1700 and Rs 2500, they said.
Punjab Agriculture Department (PAD) will soon submit four new varieties of cotton seed, having capacity of producing 50-60 maunds per acre, to the Punjab Seed Council (PSC) for approval. The new cotton varieties besides better production capacity also have resistance against Cotton Leaf Curl Virus (CLCV).
ICE cotton gained for the third straight session and hit a 1-1/2 week high on Wednesday as investors covered short positions ahead of a US Federal Reserve statement and a Thursday report expected to show another week of strong export sales. The most-active front-month March cotton contract on ICE Futures US rose 0.66 cent, or 1.1 percent, to settle at 59.44 cents a lb after rising to as much as 59.48 cents a lb, its highest level since January 16.

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
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WeeklyJanuary 25, 2015
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