Brisk cotton trading at KCA

25 Nov '05

2 min read

More than 11,000 bales rapidly traded at Karachi cotton market on Wednesday. The Karachi Cotton Association (KCA) spot rate remained at Rs 2,375 per maund.

Major mills and spinners made transactions for all qualities of cotton during the trading session, said dealers. The ginners supplied fine lots for little higher prices to the buyers. They said fine quality lot of Punjab sold at more than Rs 2,430 per maund.

Trading Corporation of Pakistan (TCP) accepted 36,000 bales from tender number 24, said a senior trader. TCP settled sale of 21,00 bales of grade III, 1-1/16 for 45 USC/lb and 15,000 bales of grade III, 1-1/32 for 44 USC/lb on FoB.

He said TCP has until now sold 1,295,560 bales, out of which 1,048,060 bales in the domestic market and 247,500 bales in export market from crop 2004-05.

A senior broker said that poor lint from Sindh ruled the trading session in terms of volume. He added that physical market price remained at Rs 2,250 per maund to Rs 2,425 per maund.

According to KCA, 400 bales of Sahiwal changed hands at Rs 2,425 per maund, 1,000 bales of Gojra at Rs 2,425 per maund, 800 bales of Mamoo Kanjan at Rs 2,410 per maund, 400 bales of Chichawatni at Rs 2,425 per maund, 400 bales of Mianwali at Rs 2,410 per maund and 1,000 bales of Rahimyar Khan at Rs 2,425 per maund and 400 bales of Rajanpur at Rs 2,425 per maund.

Approximately 1,000 bales of Arifwala at Rs 2,380 per maund, 1,000 bales of Multan at Rs 2,425 per maund, 400 bales of Mirpurkhas at Rs 2,325 per maund and 400 bales of Sadiqabad at Rs 2,400 per maund.

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