Spot rate falls amid lacklustre activity on cotton market

May 07, 2013

Cotton Spot Rates
Cotton Spot Rates

Spot rate was down modestly on the cotton market on Monday amid lacklustre trading, dealers said. The official spot rate was lower by Rs 6,450, they said. In the ready business, not a single deal was finalised due to less buying interest among traders, they said.http://zaraimedia.com/

Cotton analysts said that hardly any buyer was in the market to make any deal due to falling demand for yarn locally and foreign market as well. They also said it appeared that traders were on the sidelines ahead of general elections in the country. People are fed up with the present political and economic setup, at least traders expect business-friendly atmosphere in the country and easy policies from the next government to bring economy on track, but the interesting thing was that most of candidates were with long slogans and old faces, they added. “We are hoping for a positive change in the country but practically it is difficult in the coming days,” they added.

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The KCA Official Spot Rate for Local Dealings in Pak Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
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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-Karachion 04.05.2013
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37.324 Kgs        6,450       155         6,605         6,655           -50
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Equivalent
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40 Kgs            6,912       155         7,067         7,121           -54
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Source: Business Recorder

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