Trading activity starts in the cotton market after the Eid holidays.
Market sources told that though the business activities started in the market but trading activities will fully resume in few days.
Cotton analyst Naseem Usman told that textile exporters had received orders from USA and Canada which is good for the local textile industry.
He said both federal and provincial governments should take steps to save the cotton crop from the locust attack.
Naseem said that there are reports of rains and thunderstorms in Punjab and in few places of Sindh. He said that according to the experts rain at this stage is good for cotton crop.
Naseem said that ginning factories will partially resume their operations in Sindh from June 15.
He said that spot rate remained unchanged at Rs 8600 per maund. The rate of cotton in Sindh and Punjab is in between Rs 7000 to Rs 8600 per maund. The polyester fiber was available at Rs 157 per kg.
The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
FOR BASE GRADE 3 STAPLE LENGTH 1-1/16″
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
37.324 kg 8,600 160 8,760 8,760 NIL
40 kgs 9,217 171 9,388 9,602 NIL