Trading activity resumes on the cotton market after Eid holidays. Market sources told that 50 maund Phutti was sold at Rs 3500 per 40 kg while there were reports of trading of Khal in the market.

Cotton analyst Naseem Usman told that though the business activities started in the market but trading activities will fully resume in few days. He said that 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. He also said that farmers were complaining about low germination level of seeds.

He further said that ginning factories will partially resume their operations in Sindh from June 15.

Naseem Usman 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
                                                   on  28-05-2020
37.324 kg         8,600       160         8,760        8,760            NIL
40 kgs            9,217       171         9,388        9,388            NIL

Copyright Business Recorder, 2020