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Steady trend prevailed on the cotton market on Wednesday in the process of brisk trading activity, dealers said. The official spot rate was unchanged at Rs 8600, they added. In ready session, over 18,000 bales of cotton changed hands between Rs 7800-8800, they said. Rates of seed cotton per 40kg in Sindh were modestly higher at Rs 3600-4100 and in the Punjab prices were at Rs 3800-4150, they said. In Balochistan, cotton prices showed rising trend at Rs 8300-8500, seed cotton prices were also higher at Rs 4000-4300, they said.

In Sindh, Binola prices per maund were at Rs 1300-1500 and in Punjab rates were at Rs 1450-1600, they said and adding that polyester fibre per kg rates picked up more Rs 5 to Rs 190.

Market sources said that persistent demand for fine lint, helped the rates to hold present levels. There were no new developments which could influence the normal activity, they added. Where as, cotton analyst Naseem Usman said that buyers were not reluctant in making new deals at the higher rates due to short supply.

Adds Reuters: Cotton fell to a near two-week low on Tuesday, weighed down by weak demand from China as the trade deal between Beijing and Washington seemed far from closing in, as against robust crop expectations from United States and Brazil. The most-active cotton contract on ICE Futures US December fell 0.64%, at 60.52 cents per lb as of 1:54 p.m. EDT (1754 GMT). Total futures market volume rose by 689 to 17,142 lots. Data showed total open interest gained 1,435 to 233,791 contracts in the previous session.

The following deals reported: 1000 bales of cotton from Shahdadpur at Rs 7900/8000, 800 bales from Tando Adam at Rs 7900-7950, 600 bales from Sanghar at Rs 7800-7900, 400 bales from Rohri at Rs 8625-8650, 200 bales from Khandairo at Rs 8700, 1600 bales from Khairpur at Rs 8650-8700, 2000 bales from Haroonabad at Rs 8775-8800, 800 bales from Mian Channu at Rs 8800, same figure from Rahim Yar Khan, 600 bales from Khanewal,600 bales from Rajanpur, 400 bales from Fazilpur, 200 bales from Muhammadpur Dewan, same figure from Marrot, same number from Multan, 200 bales from Sher Sultan all done at the same rate, 400 bales from Fort Abbas at Rs 8775-8800, 800 bales from Yazman, 200 bales from Noorpur Noranga at Rs 8725, same figure from Alipur at Rs 8700, 1000 bales from Burewala, 200 bales from Dera Gazi Khan, same figure from Hasilpur, same number from Kasowal, 400 bales from Layyah, same number from 200 bales from Mianwali, same number from Tunsa Sharif, same figure from Vehari, 200 bales from Kot Addu all done at the same rate, 1200 bales from Chichawatni at Rs 8650-8700 and 400 bales from Chistian finalised at the same rate, 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 24-09-2019

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37.324 kg 8,600 160 8,760 8,760 NIL

Equivalent

40 kgs 9,217 171 9,388 9,388 NIL

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