Trading activity improved on the cotton market on Thursday on active buying by mills, dealers said. The official spot rate was unchanged at Rs.8,700 they added. Price of seed cotton in Sindh were at Rs. 3,000-3,800, in the Punjab seed cotton price at Rs.3,000-3800, and in Balochistan, rates of seed cotton were at Rs. 3,200-3,800 they said.
In the ready session, about 7000 bales of cotton changed between Rs 8300-9000, they said Some brokers said that a few mills indulged in fresh buying of fine type to replenish their stock. They said that trading activity likely to show further improvement in days to come.
Cotton analyst, Naseem Usman said that traders belonging to textile sector hoping for positive outcome of the US-China talks. He also said that encouraging response from Heimtextil fair in Frankfurt, as a large number of international buyers expressed their interest in Pak products. According to leading participants in the exhibition, we are getting support owing to depreciation in the rupee and partly because of reduction in gas prices, the exporters will be beneficial if gas supply normalise shortly.
In the international market, prices of cotton were mixed, dealers said. Following deals reported: 400 bales of cotton from Nawabshah done at Rs 8300, 600 bales from Rohri at Rs 8500, 400 bales from Ghotki at Rs 8900, same figure from Khanpur at Rs 9000, 800 bales from Rahim Yar Khan at Rs 8880-8900, 1400 bales from Alipur at Rs 8900, 1000 bales from Fazilpur at Rs 8850, 600 bales Khanewal at Rs 8700 and 300 bales of cotton from Kot Abbas at 8425, 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 09-01-2019
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37.324 kg 8,700 160 8,860 8,860 NIL
Equivalent
40 kgs 9,324 171 9,495 9,495 NIL
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