Hectic business activity on cotton market

Trading activity improved on the cotton market on Saturday due to persistent demand for quality lint, dealers said. The official spot rate unchanged at Rs 8,600, they added. In the ready session, about 15,000 bales of cotton changed hands between Rs 7800-9000, they said. Prices of seed cotton in Sindh were at Rs 3000-3500, in Punjab seed cotton prices at Rs 3000-3600 and in Balochistan prices were at Rs 3200-3500, they said.
Market sources said that leading buyers showed no reluctant in purchasing of fine quality. This is a main reason behind the firm trend in the market, they observed. Cotton analyst Naseem Usman said that demand for cotton may improve in the coming days, because, sowing has delayed due fresh rains in the cotton belt.
Reports show that cotton prices were mixed in the international markets. The following deals were reported: 400 bales of cotton from Dherki at Rs 9000, 400 bales from Ghotki at Rs 8750, 2400 bales from Khairpur at Rs 8100-8150, 3000 bales from Various Station at Rs 7800-8200, 1000 bales from Sadiqabad at Rs 8800, 1400 bales from Rahim Yar Khan at Rs 8800, 3000 bales from Khanpur at Rs 8750, 1000 bales from Lodhran at Rs 8700, 1000 bales from Noorpur Nooranga at Rs 8575, 1000 bales from Hasilpur at Rs 8775, 600 bales from Ahmedpur East at Rs 8000 and 1000 bales from Bahawalpur at Rs 8575, 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"

                                    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 08-03-2019

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37.324 kg          8,600      160         8,760        8,760            NIL

Equivalent

40 kgs             9,217      171         9,388        9,388            NIL

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