Business News / Karachi – KCA announced Cotton Rates for local dealing > Karachi Cotton Association – KCA announced the following spot rates for local dealing in Pakistani Rupees for base Grade-III, staple length 1-1/32 Micronaire value between 3.8 to 4.0 NCL.
Weight Price Expenses Ex-Karachi
37.324 6000 130 6130
40 KGs 6430 130 6560
Cotton price has declined by Rs500 to Rs.5,600-5,650 per bundle this week due to higher supply although rising require by mills and exporters, brokers said Saturday.
Member of Cotton Brokers and Advisory Committee Amir Naseem said that Phutty supply has geared up, pulling down cotton prices.
He said that New York cotton futures have also dropped on low demand from European countries.
He said spot rates of Karachi Cotton Association (KCA) has decreased by Rs500 per maund during the week due to sluggish activity to close at Rs6,000 per maund on weekend.
Amir feared that prices can fall further on higher supply after Eid.
He said cotton was selling at Rs5,600 to Rs5,650 per bundle in Sindh while it ranges between Rs5,800 to Rs5,900 per bundle in Punjab.
In the same way, good quality new phutti price has also fallen by Rs300 during the week in Sindh and it was ranging between Rs2,300 to Rs2,500 per 40kg, he noted.