Prices of seed cotton in Sindh and Balochistan were at Rs 3000-3500 and in Punjab seed cotton prices at Rs 3000-3600, they said. Market sources said that trading activity improved on rising demand by buyers ahead of the Pakistan Cotton Ginners Association (PCGA) fortnightly report. The mills and spinners trying to cover their short position owing to short supply position, they said. Cotton analyst, Naseem Usman said that some leading mills and spinners indulged in forward buying of cotton to replenish their stock.
Reuters adds: Cotton prices were mostly lower in the international markets, including US and India. Some main Asian markets will be closed in the coming week. The following deals reported: 1131 bales of cotton from Rohri at Rs 8200, 1200 bales from Mirpur Mathelo at Rs 8800, 2000 bales from Khairpur Mirus at Rs 8100, 1000 bales from Rahim Yar Khan at Rs 8800/8850, 3000 bales from Khanpur at Rs 8700/8850, 200 bales from Tonsa Shareef at Rs 8700, 200 bales from Mianwali at Rs 8000, 400 bales from Haroonabad at Rs 7950, 400 bales from Chistian at Rs 7800 and 400 bales from Hasilpur at Rs 7400, 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 01-02-2019
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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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