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 many leading traders were looking satisfied over the economic developments in the country. Generally, trend in the market is not so strong but cotton traders hoping for the positive changes will emerge in the coming days.
Sharing the same opinion cotton analyst Naseem Usman said that it's a fact that trend in the international markets is low due to world recession. There are rising anticipations that cotton production to show improvements following the corrective measures announced by the government, he said.
Adds Reuters: ICE cotton futures settled slightly higher on Wednesday, snapping a four-day losing streak on prospects of a trade deal between the United States and China. The most active cotton contract on ICE Futures US, the March contract, settled up 0.08 cent, or 0.11 percent, at 69.86 cents per lb. Total futures market volume fell 4,931 lots to 60,029. Data showed total open interest fell 2,970 to 241,956 contracts in the previous session.
The following deals reported: 200 bales of cotton from Ghotki at Rs 8750, 2600 bales from Mirpur Mathelo at Rs 8900, 400 bales from Maqsoodo Rind at Rs 7000, 600 bales from Khanpur at Rs 8800, 400 bales from Rahim Yar Khan at Rs 8725, 400 bales from Lodhran at Rs 8500, 600 bales from Alipur at Rs 8600, 200 bales from Shujabad at Rs 8100, 400 bales from Bahawalpur at Rs 8000 and 600 bales from Haroonabad at Rs 7300, 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 13-02-2019
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37.324 kg 8,600 160 8,760 8,760 NIL
Equivalent
40 kgs 9,217 171 9,388 9,388 NIL
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