Cotton analyst, Naseem Usman said that the arrival of fine type was short, which caused increase in prices. Besides, transportation problem was also of the factor behind the rise in rates, he added. The ginners refrained from bring the rates down of better quality and it is most likely that prices may stabilise further before Eid-ul-Azha holidays, other experts said.
The following deals reported: 2000 bales from Sanghar at Rs 6000/6050, 3000 bales from Shahdadpur, 2000 bales from Mirpurkhas, 1000 bales from Hyderabad all transations sold at the same rates, 3000 bales from Kotri at Rs 6000/6075, 2000 bales from Tando Adam at Rs 6000/6100, 400 bales from Pak Pattan at Rs 6100, 1200 bales from Khanewal, 800 bales from Bahawalpur, 1600 bales from Burewala, 800 bales from Chichawatni, 1000 bales from Mian Chano, 600 bales from Chistian, 1400 bales from Haroonabad, 600 bales from Pir Mehal, 1000 bales from Vehari, 600 bales from Gojra, 1200 bales from Sahiwal, 600 bales from Jehanian all were finalised at Rs 6100/6200, 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 19.08.2017
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37.324 kg 6,000 145 6,145 6,095 + 50/-
Equivalent
40 kgs 6,430 155 6,585 6,532 + 53/-
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Copyright Business Recorder, 2017