Prices of seed cotton in Sindh and Punjab were at Rs 3000-3700 and in Balochistan, rates of seed cotton were at Rs 3200-3700, they said.
According to the market sources, most of the leading participants were on the sidelines due to so much fog in most parts of the Punjab.
Cotton analyst Naseem Usman said that traders and businessmen are looking a little bit happy after announcements of several incentives in the mini budget.
Some traders said that we are just groping in the dark as the government could not announce SRO in the mini budget. They said that the government has removed import duty on cotton, but without announcement of SRO, how textile sector can survive.
Adds Reuters: ICE cotton futures fell on Thursday, hurt by a stronger dollar and weakness in grains and stock markets.
The most active cotton contract on ICE Futures US the March contract settled down 0.38 cent, or 0.52 percent, at 73.14 cents per lb.
Total futures market volume fell by 2,556 to 17,946 lots. Data showed total open interest gained 843 to 231,651 contracts in the previous session. In other parts of world, cotton prices were mixed in the process of trading.
The following deals reported: 200 bales of cotton from Dera Ghazi Khan, same figure from Shehar Sultan at Rs 8800 and 400 bales from Rahim Yar Khan at Rs 8850, 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 24-01-2019
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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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