Pakistan: Cotton spot rate down by Rs100

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KARACHI: The local cotton market recorded improvement in lint quality, which resulted in increase in the spot rate by Rs100 per maund on Tuesday, said a dealer.

The spot rate increased to Rs5,300 per maund (37.324kg) and Rs5,680 per 40kg, while ex-Karachi rate improved to Rs5,455 per maund and Rs5,835 per 40kg after addition of Rs155 as upcountry expenses, he said.

An analyst said that prices improved in the local market because of improvement in the quality and an increase in the international prices. “Quality improved in the country after rains in lower Sindh, while impact of the international market was visible on Tuesday,” he said.

Karachi cotton market witnessed active trading of more than 24,000 bales from the new crop, while prices remained in the range of Rs5,200 to Rs5,475 per maund.

Shahdadpur’s 2,000 bales and 1,600 bales of Sanghar were each sold at Rs5,350 to Rs5,400 per maund, 2,000 bales of Tando Adam at Rs5,375 to Rs5,400, 1,600 bales of Mirpurkhas at Rs5,300 to Rs5,400, 800 bales of Shaheed Benazirabad (Nawabshah) and 600 bales of Hyderabad at Rs5,400, 2,000 bales of Khairpur at Rs5,500 to Rs5,550, 2,000 bales of upper Sindh at Rs5,400 to Rs5,550 and 200 bales of Dadu were sold at Rs5,500 per maund.

Chichawatni’s 1,200 bales were traded at Rs5,200 to Rs5,350, 400 bales of Vehari at Rs5,250 to Rs5,300, 1,000 bales of Burewala at Rs5,250 to Rs5,400, 2,400 bales of Rajanpur at Rs5,250 to Rs5,400, 200 bales of Arifwala, 200 bales of Chiniot and 200 bales of Kassowal were each sold at Rs5,250 per maund.

Maroot’s 600 bales, 800 bales of Khanewal, 200 bales of Gaggo Mandi and 400 bales of Khanpur were each sold at Rs5,300 per maund, 2,600 bales of Haroonabad at Rs5,400 to Rs5,425, 800 bales of Faqirwali and 400 bales of Bahawalpur at Rs5,400 and 400 bales of Sadiqabad were sold at Rs5,475 per maund.

Source: http://www.thenews.com.pk/Todays-News-3-135361-Cotton-spot-rate-down-by-Rs100

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