According to the market sources, needy mills and spinners took interest in fresh buying to replenish their stock. Despite the declining textile exports and energy crisis a few buyers indulged in fresh purchasing, they added. In the meantime, the ginners who were not ready to sell their unsold stock, now obliging mills as rates were matching with their psychological levels, cotton analyst, Naseem Usman said.
According to reports, to improve cotton production, growers advised to prepare land vacated from wheat crop for cotton after application of disc harrow so as to increase its fertility. It also said that laser land leveller should also be used for equal distribution of nutrients and water while only healthy, quality and approved seed should be used. The growers should also apply anti-sects and anti-fungus poisons to seed before sowing. The following deals reported: 600 bales from Halani at Rs 7000, 3931 bales from Rahim Yar Khan at Rs 6850 and 200 bales from Khanewal at Rs 6775, 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 20-05-2017
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37.324 kg 6,800 135 6,935 6,935 Nil
Equivalent
40 kgs 7,288 145 7,433 7,433 NIL
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Copyright Business Recorder, 2017