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 market sources, ginners who were under pressure last days due to huge stock of unsold cotton with them, now looking relaxed owing to fall in supply in seed cotton.
They may try to increase rates of cotton in the coming days, sources said and adding that prices were firm despite less buying interest.
Cotton analyst Naseem Usman said that traders were a little bit satisfied after the economic measures announced in the mini-budget by the government. He said that these packages may help in restoring the business confidence.
Textile spinners who need to import about 4 million bales are keenly awaiting for Statutory Release Order (SRO) for allowing duty free import of cotton permitted by the Economic Coordination Committee (ECC)
Cotton prices moved both ways in the international markets, brokers said.
The following deals reported: 800 bales of cotton from Rahim Yar Khan at Rs 8700 and same figure from Khanpur 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 26-01-2019
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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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