Ministry estimates Rs 22 billion loss to cotton growers during 2015-16 –01:40. PM – July 28, 2016
Ministry of Textile Industry has estimated a loss of Rs 22 billion to cotton growers during 2015-16, after ginners and downstream industry denied them due price, it is learnt. Official sources revealed to Business Recorder that due to lack of quality-based pricing system and non-practising of the cotton standardisation system Pakistani raw cotton is being traded at an average discount of 7 cents per pound in the international market.
Today KCA Spot Rate –12:40. PM – July 28, 2016
Today Karachi Cotton Association (KCA) spot price increased by 100 at (New Crop 2015 -16) 6450 per maund Ex- Gin.
Punjab Cotton Market overnight Commentary –12:10. PM – July 28, 2016
The Punjab market – yesterday – 27/7/2016: was rise, due to rise in demand and because of low availability of cotton stock in the international & domestic markets, and as more rains are expected, there would be an increase in buying activities too. New Cotton (Crop 2016-17) price was traded at an idea price of between Rs. 6900 per maund while prices for the old (Crop 2015-16) was traded at an price were not available. New Seed cotton (phutty) (Crop 2016-17) traded at an idea price of between the ranges of Rs. 2900 – 3350 per maund but price for old Crop 2015-2016, was not available.
Sindh Cotton Market overnight Commentary –12:05. PM – July 28, 2016
The Sindh cotton market had been rise yesterday – 27/7/2016, but buying activities had gone up, due to demand in rise & because of low availability of cotton stock in the international & domestic market. Cotton new (Crop 2016-17) traded at an idea price of between the ranges of Rs. 6650 – 6700 per maund while prices for the old (Crop 2015-16) traded at an idea price of between the ranges of Rs. 5800 – 6200 per maund. Seed cotton New (phutty) crop 2016- 17 was traded at an idea price of between the ranges of Rs. 3150 – 3250 per maund but prices for Seed cotton old (phutty) Crop 2015-2016, were not available.
NYBOT Cotton Future Contracts Closing –09:50. AM – July 28, 2016
As on 27 July 2016 (1 USD = 104.40 PKR)
|Month||C/lbs||PKR / maund|