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.
Pakistan Cotton Ginneries managed to get around 1,28,82,963 cotton bales by January 15th, 2014, an increase of 7.16 percent against the last year figure of 1,20,22,040 bales, as per the fortnightly report on cotton arrivals by Pakistan Cotton Ginners Association (PCGA)
The PCGA chairman Mukhtar Ahmed Khan Baloch said that 1,10,16,89 11.016 cotton bales were sold to the textile units, while exporters were sold 3,38,538 bales. Thus, overall 11.354 million bales were traded so far.
Cotton arrival in the Pakistan local markets recorded an increased by 9.36 per cent as compared to the same period of last year. About 12.67 million cotton bales arrived in local market.
