In the ready session, 7000 bales of cotton changed hands between Rs 7800-9075, they said. Market sources said that mills' buying was seen today, which helped rates to sustain present levels. During the last sessions, a kind of dullness seen in the cotton market as buyers stayed away the market.
Both buyers and sellers were facing uncertainty due to lack of basic facilities, the government must take practical measures to achieve cotton production. In 2011-12, the country achieved over 14 million bales of cotton, they said. But now, cotton production is falling mainly because of less supply of irrigation water, pesticides and non-availability of pure cotton seed.
Cotton analyst, Naseem Usman said that the entire cotton economy is currently faced with adverse domestic and world factors.
Whereas, it is encouraging to note that a large-number of Pak textile producers are taking part in the four-day international trade fair, Heimtextil in Frankfurt, Germany from 8-11, he added.
Local textile producers were expecting for winning orders from several countries, he observed. Nearly, 222 leading Pak Textile producers are participating the Fair, he said.
The following deals reported: 1000 bales of cotton from Dherki at Rs 9075, 200 bales from Sadiqabad at Rs 9000, 200 bales from Rahim Yar Khan at Rs 9000, 800 bales from Rajanpur at Rs 9000, 400 bales from Khanpur at Rs 8800, 200 bales from Jalalpur at Rs 8375, 200 bales from Shadan Lund at Rs 8200, 1000 bales from Ahmedpur East at Rs 8050, 400 bales from Bahawalpur at Rs 8050, 200 bales from Noorpur Nooranga at Rs 8050, 200 bales from Yazman Mandi at Rs 8050, 1000 bales from Haroonabad at Rs 8000, 200 bales from Faqeerwali at Rs 8000, 200 bales from Hasilpur at Rs 8000, 400 bales from Chistian at Rs 8000, 400 bales from Layyah at Rs 7800, 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 07-01-2019
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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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