Cotton prices raised as trading gained momentum over tight supply. The Karachi Cotton Association (KCA) raised its spot rate by Rs50 to Rs6,350. The following were Thursday’s new crop Karachi Cotton Association (KCA) official spot rates for local dealings in Pak rupees for base grade 3 staple length 1-1/32” micronair value between 3.8 to 4.9 NCL.
A total of 600 bales changed hands across the country including 200 bales in Punjab. The following deals were finalised on the ready counter on Thursday: 200 bales, Khipro, at Rs6,350, 200 bales, Shahdadpur, at Rs6,400 and 200 bales, Burewala at Rs6,500.
Cotton trading starting catching speed in Sindh on Thursday, but rains in major cotton-growing areas of Punjab affected phutti arrivals into ginneries.
Ginning factory in Sahiwal received 650 maunds of raw cotton followed by Burewala (250 maunds), Pakpattan (500 maunds), Chichawatni (200 maunds), Mailsi (100 maunds) and Chishtian (50 maunds).
Phutti arrivals in Sindh including Jhudo, Badin, Thatta and Daharki ginning factories have been 2,000 maunds as the cotton picking season in the province has started.
Some major textile groups have also sent their staff to fields to check crop quality and market trend.
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