The official spot rate was unchanged at Rs 8000, they added. In ready session, about 7000 bales of cotton changed hands between Rs 7750 and Rs 8400, 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 180.
According to the market sources, trading activity failed to pick up as the leading mills were reluctant to get engaged in big deals owing to concern over the lint quality in some areas of Sindh and Punjab causing losses to growers.
Trading activity likely to show better performance after the monsoon rains, dealers said.
Cotton analyst, Naseem Usman said that quality of cotton damaged by recent rains, this factor may push the rates higher in the coming days.
According to the market sources, Pakistan Cotton Ginners Association (PCGA) issued 1.5 million bales of cotton on September 1, 2019.
In other parts of the world markets prices were down in slow business, dealers said.
The following deals reported: 600 bales of cotton from Tando Adam at Rs 7750/7800, 1000 bales from Shahdadpur at Rs 7800/7950, 1400 bales from Sanghar at Rs 7750/7800, 400 bales from Mirpurkhas at Rs 7750/7800, 1400 bales from Nawabshah at Rs 7850, 200 bales from Chichawatni at Rs 8400, 1000 bales from Moongi Banghla at Rs 8300, 800 bales from Burewala at Rs 8300 and 200 bales from Muridwala at Rs 8100, 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 02-09-2019
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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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