The official spot rate was unchanged at Rs 8000, they added. In ready session, over 10000 bales of cotton changed hands between Rs 7700 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 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 180.
According to the market sources, volume of business increased as some major buyers showed renewed interest in fresh deals.
Besides, cotton analyst, Naseem Usman said that stagnant rain water in the fields is harmful for the crop.
The higher moisture in the phutti (seed cotton) will also affect the quality of lint, they said.
Reports showing that the Pakistan Cotton Ginners Association released it's fortnightly report at 1.3 million bales till Sept 1, 2019.
Reuters adds: ICE cotton futures fell to a one-week low on Tuesday as the threat from Hurricane Dorian lost its edge and trade negotiations between the United States and China showed no progress.
The cotton contract for December settled down 0.97 cent, or 1.7%, at 57.86 cents per lb as of 02:58 p.m. EDT (1858 GMT). It traded within a range of 57.55 and 58.73 cents a lb.
Total futures market volume rose by 11,498 to 28,777 lots. Data showed total open interest fell 692 to 222,128 contracts in the previous session.
The following deals reported: 1400 bales of cotton from Shahdadpur at Rs 7750/7850, 1400 bales from Tando Adam at Rs 7750/7900, 800 bales from Mirpurkhas at Rs 7760, 600 bales from Hyderabad at Rs 7750, 1400 bales from Sanghar at Rs 7750/7800, 400 bales from Kotri at Rs 7765, same figure from Jhol at Rs 7700, 200 bales from Hala at Rs 7800, 600 bales from Dhor at Rs 7800/7850, 200 bales from Bandhi at Rs 8000, 1000 bales from Nawabshah at Rs 7840/8000, 600 bales from Mian Channu at Rs 8400, 200 bales from Rajanpur at Rs 8500, 800 bales from Haroonabad at Rs 8400/8425, 200 bales from Mianwali at Rs 8410, 800 bales from Chichawatni at Rs 8300/8325, 200 bales from Hasilpur at Rs 8300, 400 bales from Vehari at Rs 8300/8325, 200 bales from Layyah at Rs 8250, 600 bales from Haroonabad at Rs 8350 and 600 bales from Bahawal Nagar at Rs 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 03-09-2019
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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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