International Cotton Market Report – 01:00 PM – December 02, 2015
Today KCA Spot Rate – 12:35 PM – December 02, 2015
Today Karachi Cotton Association (KCA) spot price decreased by 50 at (New Crop 2015 -16) 5250 per maund Ex- Gin
Sindh Cotton Market Overnight Commentary – 12:30 PM – December 02, 2015
The Sindh cotton market was slightly decreased yesterday 1/12/2015. Cotton (New Crop 2015-16) was traded at an idea price of between Rs 5450- 5550 per maund, and Seed cotton (phutty) new crop 2015-16 between Rs.2000 – 2900 per maund.
Punjab Cotton Market Overnight Commentary – 12:25 PM – December 02, 2015
Yesterday – 1/12/2015: The Punjab market had almost been stable. Cotton (Crop 2015-16) was traded at an idea price between the ranges of Rs. 4800 – 5600 per maund and Seed cotton (phutty) new Crop 2015-16 @Rs 1800 – 3175 per maund.
Pakistan helps cut India’s cotton glut – 12:10 PM – December 02, 2015
Pakistan is buying more cotton than expected from India after floods cut its own crop to the smallest in over a decade, opening an opportunity for the world’s biggest producer to offload its bulging stockpiles.Farmers in India have struggled to find buyers over the past year after the world’s top cotton consumer China cut import quotas to stimulate demand for its own fibre. The problem has been further exacerbated by near record high Indian output.But the recent flurry of purchases by Pakistan has pushed up cotton prices in India to above a state-fixed support price in most regions, reducing the pressure on the government to buy from distressed farmers.
India has contracted to export 2 million bales (1 bale is equal to 170kg) in the marketing year that started on Oct 1, with Pakistan buying half of that, five dealers told Reuters. Typically, China would account for more than 50 per cent of India’s shipments.
NYBOT Cotton Future Contracts Closing – 10:05 AM – December 02, 2015
As on 01st December 2015 (1 USD = 105.00 PKR)
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