RECORDER REPORT

KARACHI: Cotton crop damaged by virus attack in Thar and other parts of the country may cause further increase in rates of fine rates, dealers said on the cotton market on Monday.

The official spot rate was unchanged at Rs 9400, they added. In ready session, nearly 10,000 bales of cotton changed hands between Rs 7900-9650, they said.

Rates of seed cotton per 40kg in Sindh were at Rs 3600-4500 and in the Punjab prices were at Rs 3800-4800, they said. In Balochistan, seed cotton prices were at Rs 4200-4900, they said.

In Sindh, Binola prices per maund were at Rs 1400-1700 and in Punjab rates were at Rs 1550-1750, they said and adding that polyester fibre was at Rs 187.

Market sources said that virus attacked on the standing crop, which may push rates further higher in the coming days.

Reports showing that over 6.097 million bales of cotton had arrived in the local markets as against the arrival of 7.706 million bales of the corresponding period of last year.

The cotton arrival in the local markets by November 1st decreased by 20.88 percent as compared to the arrival of the corresponding period of last year, according the consolidate data statement of cotton arrivals in factories, issued by the Pakistan Cotton Ginner’s Association (PCGA).

Cotton analyst, Naseem Usman said that cotton crop damaged by virus attack in some parts of country, the cotton farmers and growers were under pressure of the circumstances.

In the international market, cotton prices were mixed amid the process of trading, he added.

The following deals reported: 200 bales of cotton from Shahdadpur at Rs 7900, 1000 bales from Rohri at Rs 9000/9200, 200 bales from Saleh Pat at Rs 9325, 1600 bales from Khairpur at Rs 9050/9200, 400 bales from Khanpur Mehar at Rs 9650, 200 bales from Vehari at Rs 8500, 400 bales from Burewala at Rs 8600, 200 bales from Layyah at Rs 8750, 400 bales from Pak Pattan at Rs 8750, 400 bales from Khanewal at Rs 8800, 400 bales from Hasilpur at Rs 8925, 1000 bales from Faqirwali at Rs 9300, 1000 bales from Mianwali at Rs 9400, 400 bales from Haroonabad at Rs 9400, 200 bales from Khanpur at Rs 9650, 200 bales from Donga Bonga at Rs 9500, 800 bales from Rahim Yar Khan at Rs 9650, 200 bales from Fort Abbas at Rs 9500 and 800 bales from Sadiqabad at Rs 9650, they said.