Prices of seedcotton (phutti) were unchanged in Sindh at Rs 2400-2750 and in Punjab, rates were showed no change at Rs 2500-2800, they said. Market sources said that mills did handsome buying of local stuff, some of them shrugging of the idea of import from foreign countries.
They said that why we don't want to give up imports of those items, which are easily available with little changed in our country. Our foreign exchange reserves are coming down rapidly due to high import bills. The ginners were also preferring to sell as much as they can at the present rates, because they feel, rates may not pick up in the near future, some brokers said.
According to the Reuters, US cotton futures rallied to six-week highs in heavy volume on Tuesday as investors took their long-awaited cue to pile into fibers from a broadly neutral US government monthly crop report. In its monthly crop report, the US Department of Agriculture lowered its 2012/13 world cotton stocks forecasts for the first time since the marketing season started in August.
While the report contained only minor changes to forecasts and the USDA still expects a record carryover, the headline numbers showing a slight improvement in demand and falling output were seen as a victory for the bulls. The most-active March contract on ICE Futures US settled up 1.5 cents, or 2.04 percent, at 74.9 cents per lb, just shy of its intraday high of 74.99 cents.
With almost 19,000 lots changing hands, volume in the March fibers contract alone was double recent daily averages for the whole market. Cotton was the second-best performer out of the 19 commodities tracked by the Thomson Reuters-Jefferies CRB index. The following deals were reported: 400 bales of cotton from Mirpurkhas at Rs 5100-5200, 200 bales from Hyderabad at Rs 5300, 600 bales from Hala at Rs 5500, 800 bales from Shahdadpur at Rs 5500, 800 bales from Sarhari at Rs 5725, 400 bales from Kotri (Seed) at Rs 5750, 200 bales from Duniyapur at Rs 5800, 400 bales from Chichawatni at Rs 5800, 1000 bales from Yazman Mandi at Rs 5800/5850, 1400 bales from Haroonabad at Rs 5800/5850, 400 bales from Darhanwala at Rs 5820, 1000 bales from Faqirwali at Rs 5825, 600 bales from Fort Abbas at Rs 5850, 200 bales from Chistian at Rs 5850, 600 bales from Hasilpur at Rs 5850, 200 bales from Khanewal at Rs 5850, 1000 bales from Burewala at Rs 5850, 200 bales from Arifwala at Rs 5850, 200 bales from Liaquatpur at Rs 5875, 400 bales from Bahawalpur at Rs 5900, 800 bales from Alipur at Rs 5900, 400 bales from Layyah at Rs 5950, 2000 bales from Rahimyar Khan at Rs 5950, 1000 bales from Khanpur at Rs 5950, 600 bales from Tonsa Sharif at Rs 5950, 2000 bales from Sadiqabad at Rs 5950-6000, 200 bales from Kabbirwala at Rs 6000, 800 bales from Fazilpur at Rs 6000 and 1000 bales from Mianwali at Rs 6050, they said.
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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 11.12.2012
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37.324 Kgs 5,850 155 6,005 6,005 NIL
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Equivalent
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40 Kgs 6,269 155 6,424 6,424 NIL
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