Cotton market: rates decline further amid modest trade

August 05, 2014 – BR Report –

cotton-crop

Prices continued to fall on the cotton market on Monday amid modest trading, dealers said. The official spot rate fell by Rs 150 to Rs 5250, they added. In ready session, the prices of seed cotton in Sindh and Punjab rose by Rs 100 to Rs 2600-2700, they said. Market sources said that prices failed to resist decline due to less buying interest from buyers. The ginners were upset owing to continued fall in the prices, they added.

Cotton analyst, Naseem Usman said that in the morning, prices were on down side, but in the late evening rates of cotton started improving. In the meantime, he said that if prices not lifted in the world market, it is most likely that rates may depict lower trend in times to come. Most of them were not interested in selling the same commodity because of high cost of production and low return, they said. The following deals reported: 1600 bales of cotton from Shahdadpur sold at Rs 5250-5300, 1400 bales from Sanghar, same figure from Mir Pur Khas, 1000 bales of cotton from Tando Adam at the same rate, they said.

 

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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-Karachi
                                                on 02.08.2014
===========================================================================
37.324 Kgs        5,250        155        5,400        5,550           -150
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Equivalent
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40 Kgs            5,626       155         5,786        6,937           -151
===========================================================================

 

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