Modest trading was seen on the cotton market on Monday as a result of slow phutti arrivals, dealers said. Official spot rate was left unchanged at Rs 5800, they said. In the ready business over 6,000 bales of cotton changed hands between Rs 5850-6000, they said.
The prices of seedcotton in Sindh were higher at Rs 2625-2650 and in the Punjab unchanged at Rs 2600-2700, they added. Market sources said that the pace of arrivals is low but the mills have already covered the forward buying. The ginners want to increase asking prices but most of them (mills and spinners) did not oblige and preferred to keep to sidelines, Naseem Usman said. It looks that the normal trading activity may begin after Eid holidays, phutti arrivals may improve and likely to help both buyers and sellers to find a meeting ground, other experts said.
The following deals were reported: 1000 bales of cotton from Shahdad Pur sold at Rs 5850, 800 bales of cotton from Sanghar at Rs 5850, 600 bales of cotton from Tando Adam at Rs 5850, 600 bales of cotton from Mir Pur Khas at Rs 5850, 400 bales of cotton from Hyderabad at Rs 5850, 400 bales of cotton from Kotri at Rs 5850, 600 bales f cotton from Burewala at Rs 5900-6000, 200 bales of cotton from Depal Pur at Rs 5925, 400 bales of cotton from Arif Wala at Rs 6000, 200 bales of cotton from Kabir Wala at Rs 6000, 200 bales of cotton from Rahim Yar Khan at Rs 6000 and 200 bales of cotton from Khanewal at Rs 6000.
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The KCA Official Spot Rate for Local Dealings in Pak Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
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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 11 08.2012
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37.324 Kgs 5,800 155 5,955 5,955 NIL
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Equivalent
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40 Kgs 6,216 155 6,371 6,371 NIL
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