The official spot rate was unchanged at Rs 8,700, they added. Prices of seed cotton in Sindh were at Rs 3000-4000, in the Punjab seed cotton prices at Rs 3200-4000 and in Balochistan, rates of seed cotton were at Rs 3600-3900, they said.
In the ready session, no any deal was finalised owing to lack of buying interest, they said.
Market sources said that uncertainties created among the leading participants owing to likely mini budged in January 2019.
Besides, cotton analyst, Naseem Usman said that bank closing is also a factor behind the dullness in the cotton market.
What are possibilities in the budget, participants were busy in exchanging views over more taxes, rise in essentials and further increase in the dollar's value in terms of the rupee, he added.
In the international markets, cotton prices moved both ways, dealers 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 27-12-2018
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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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