The official spot rate was unchanged at Rs 8700, they added. Rates of seed cotton per 40kg from Lower Sindh were available at Rs 3500-3900, they said.
Binola per maund prices were at Rs 1450-1500, they said. Polyester fibre rates went up modestly from Rs 185 to Rs 192, they said. Approximately, 1600 bales of cotton (new crop) changed hands between Rs 8050-8200 and 600 bales of cotton done at Rs 8000, they said.
In fact, leading buyers kept on the sidelines owing to quality factor, cotton analyst, Naseen Usman said and adding that farmers and growers were praying for cotton crop should be saved from insect attack.
Other brokers said that if the General Sales Tax (GST) imposes, prices of seed cotton may come down further in the coming days.
Cotton prices were mixed in the international market, 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"
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 22-06-2019
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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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