Steady condition was again witnessed on the cotton market as buyers were interested in fresh purchasing, dealers said. Some broker said it appears that buying may emerge from mills and spinners as a result of token demand. They further said that exporters were also there in the market to meet the demands by the foreign buyers.
KCA left the spot rate unchanged at Rs 5,300, the said. The seedcotton prices: in Sindh at Rs 1900-2350 at the overnight levels and also in the Punjab at Rs 2000-2650, they said. In the ready dealings nearly 4,000 bales of cotton changed hand between Rs 4,600-5,500, they added.
Reuters' report says - Cotton futures finished mostly lower on Thursday in profit-taking off a near two-month high, as players prepared for a long-anticipated government report on cotton sowings in 2012, analysts said. The benchmark May contract on ICE Futures US fell 0.49 cent to close at 93.07 cents per lb, after dealing from 93.07 to 94.39 cents. Wednesday's close at 94.03 cents was the loftiest on the spot cotton contract since February 7. Volume came to around 16,850 lots, about 15 percent over the 30-day norm, Thomson Reuters data showed.
The following deals were reported: 300 bales of cotton from Nawabshah sold at Rs 4600, 200 bale of cotton from Multan at Rs 5300, 200 bales of cotton from Hasil Pur at Rs 4350, 200 bales of cotton from Karor Pacca at Rs 5300, 200 bales of cotton from Mailsi at Rs 5400, 200 bales of cotton from Fort Abbas at Rs 5400, 400 bales of cotton from Haroonabad at Rs 5400, 200 bales of cotton from Mian Wali at Rs 5400, 1500 bales of cotton from Rahim Yar Khan at Rs 5400/5500 and 200 bales of cotton from Khan Pur at Rs 5550.
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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 29.03.2012
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37.324 Kgs 5,300 130 5,430 5,430 NIL
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Equivalent
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40 Kgs 5,680 130 5,810 5,810 NIL
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