In Sindh, Binola prices per maund rates were at Rs 1400-1550 and in Punjab rates were at Rs 1550-1650, they said and adding that polyester fibre per kg rates were at Rs 187.
Commenting on the heavy rains in Sindh and other parts of the country, cotton analyst, Naseem Usman said that rains destroyed standing cotton crop in the field. Stagnant water played havoc in the cotton belt, this is the main factor which propelled mills to keep on the sidelines.
Adds Reuters: ICE cotton futures gained for a second straight session on Wednesday ahead of federal export sales data, which is expected to show higher sales of the natural fibre.
Cotton contracts for December rose 0.75 cent, or 1.29 %, to 58.67 cents per lb at 02:22 p.m. EDT (1822 GMT). It traded within a range of Total futures market volume fell by 11,224 to 15,611 lots. Data showed total open interest gained 490 to 219,375 contracts in the previous session.
Following deals were reported: 400 bales of cotton from Shahdadpur at Rs 7800, 1000 bales from Khanewal at Rs 8400, 400 bales from Shujaabad at Rs 8350, 200 bales from Rajanpur at Rs 8300, 400 bales from Pir Mehal at Rs 8250, 800 bales from Burewala at Rs 8100-8150, 200 bales from Vehari at Rs 8100, same figure from Chichawatni at Rs 8025 and 200 bales from Ahmedpur East at Rs 8000, 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 28-08-2019
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37.324 kg 8,000 160 8,160 8,160 Nil
Equivalent
40 kgs 8,574 171 8,745 8,745 Nil
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