Rates were stable on the cotton market on Saturday in process of lacklustre business activity, dealers said. The official spot rate was unchanged at Rs 8,700, they added. Prices of seed cotton in Sindh were at Rs 3000-3800, in the Punjab seed cotton prices at Rs 3000-3800 and in Balochistan, rates of seed cotton were at Rs 3200-3800, they said. In the ready session, a deal of 400 bales of cotton from Mianwali finalised at Rs 7800, they said.

According to the market sources, leading participants were on the sidelines ahead of Mini-budget, which will be announced on 23rd of the current month. As a whole, the tone was soft during the week due to lack of buying interest by mills, whereas, buying interest for cotton yarn improved slightly, they said. Cotton related circle was expecting trading activity will improve after positive response in the recent Heimtextil fair, cotton analyst, Naseem Usman said. They also said that cotton prices were mixed in international markets.

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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 11-01-2019

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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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Copyright Business Recorder, 2019