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. Commenting on the present situation on the economic front, cotton analyst, Naseem Usman said that all are in dilemma under the circumstances. Nobody was ready to make any loss because the textile sector is already facing a lot of difficulties as a result of world recession, other brokers said.
Tussle with India should be settled down as soon as possible to avoid further losses and anxiety in the coming days, they said. On the other hand, traders were expecting a settlement in coming discussions between China and India, they noted.
Adds Reuters: ICE cotton futures settled lower on Wednesday, dealers said. Cotton prices were mixed in other parts of the world. The following deals reported: some 400 bales of cotton from Sui at Rs 8450 and 1000 bales from Lodhran at Rs 8550, 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 20-02-2019
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37.324 kg 8,500 160 8,660 8,760 - 100/-
Equivalent
40 kgs 9,109 171 9,280 9,388 - 108/-
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