Prices maintained firm trend on the cotton market on Friday in the process of improved trading activity, dealers said. The official spot rate was unchanged at Rs 7600, they added. In both Sindh and Punjab, seed cotton prices were at Rs 2800-3100, they said. In the ready session, over 6000 bales of cotton changed hands between Rs 6400-7800, they said.
Market sources said that the spinners were taking interest in fresh purchasing of lint cotton to replenish their stocks. In fact, the erratic market behaviour is persisted these days because present season is near to close, they added. A few leading spinners and mills failed to lay hands over the quality cotton as the ginners were not ready to oblige them.
Other experts said that demand for quality cotton is still there but the ginners were hoping for better price in the near future. Cotton analyst, Naseem Usman said that the government must ensure availability of certified cotton seeds to growers to increase crop size.
Other analysts said that only promises by the government for providing basic facilities such as best quality of cotton seed, frequent supply of irrigation water and timely spray of insecticide would not help in achieving the cotton production target for the coming years. They also said that during sowing country received rains, which are beneficial for the cotton production.
The following deals were reported: 1400 bales of cotton from Khanpur at Rs 7700-7800, 800 bales from Rahim Yar Khan at Rs 7800, 400 bales from Liaquatpur, same figure from Khanewal all finalised at the same level, 1000 bales from Kasowal at Rs 6900, 1200 bales from Lodhran at Rs 6600 and 1000 bales from Chowk Munda at Rs 6400, 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 19-04-2018
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37.324 kg 7,600 145 7,745 7,745 NIL
Equivalent
40 kgs 8,145 155 8,300 8,300 NIL
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