Home »Cotton and Textiles » Pakistan » Cotton market: trade activity down on sporadic rains in the country
Trade activity slowed down on the cotton market on Saturday as most of the mills were on the sidelines due to less buying interest, dealers said. The official spot rate was unchanged at Rs 8000, they added. In ready session, over 5000 bales of cotton changed hands between Rs 7750 and Rs 8500, they said. Rates of seed cotton per 40kg in Sindh were at Rs 3400-3700, in Punjab prices were at Rs 3200-3800, they said. In Balochistan, seed cotton prices were at Rs 3600-3700, they said.

In Sindh, Binola prices per maund 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. According to the market sources, trading activity could not pick up as leading buyers were conspicuous by their absence. Commenting on the sporadic monsoon rains in Sindh and other parts of the country, cotton analyst, Naseem Usman said that rains destroyed cotton quality and quantity, which may push the rates higher in the coming days.

Adds Reuters: ICE cotton futures inched down on Friday in thin volume, due to lack of clarity in the US-China trade negotiations, sending the natural fiber down for a fifth straight month. Cotton contracts for December settled down 0.17 cent, or 0.29 %, at 58.83 cents per lb. It traded within a range of 58.46 and 59.3 cents a lb.

Total futures market volume fell by 6,775 to 12,037 lots. Data showed total open interest gained 1,888 to 223,150 contracts in the previous session. The following deals reported: 400 bales of cotton from Shahdadpur at Rs 7800/7900, 600 bales from Tando Adam at Rs 7750/7900, 200 bales from Tando Ghulam Ali at Rs 7900, 400 bales from Khanewal at Rs 8300/8500, 200 bales from Rajanpur at Rs 8400, 400 bales from Mian Channu at Rs 8300/8400, 1600 bales from Vehari at Rs 8278/8300, 200 bales from D.G. Khan at Rs 8350, 400 bales from Kasuwal at Rs 8300/8350 and 700 bales from Burewala at Rs 8150/8300, 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 30-08-2019

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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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