In the ready session, about 10,000 bales of cotton changed hands between Rs 7700-9000, they said. According to the market sources some needy mills indulged in buying of fine quality of cotton to replenish their stock.
Cotton analyst, Naseem Usman said that many traders were looking disturbed due to unclear directions on the economic front, some of them were hoping economy would come out of the wood in the coming days. In the international markets most of commercial centres were closed due to New Year holidays.
The following deals reported: 2600 bales of cotton from Sadiqabad at Rs 9000, 1000 bales from Rahim Yar Khan at Rs 9000, 1000 bales from Fort Abbas at Rs 8050, 400 bales from Layyah at Rs 8000, 2000 bales from Haroonabad at Rs 7900/8000, 600 bales from Darahwala at Rs 8000, 1400 bales from Faqeerwali at Rs 7900/8000, 200 bales from Chistian at Rs 7900, 800 bales from Khanewal at Rs 7750 and 600 bales from Donga Bonga at Rs 8000, 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 31-12-2018
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37.324 kg 8,800 160 8,960 8,960 NIL
Equivalent
40 kgs 9,431 171 9,602 9,602 NIL
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