Cotton market: lean business activity amid post-holiday session

Mills and spinners showed no interest in fresh buying amid pos-holiday session,on the cotton market on Tuesday. Official spot rate was unchanged at Rs 5,650. In the ready business, nearly, 5,000 bales of cotton changed hands between Rs 5650-5800. Seeds cotton prices in the Punjab and Sindh were same at Rs 2400-2700.

Market sources said that not much activity was seen as leading buyers were sidelines on lack of buying interest. There was dullness in the cotton market after Hurricane Sandy in the US East Coast, which may cause a damage of 20 billion dollars market, cotton analyst, Naseem Usman said. He also said that after Hurricane Sandy, some were anticipating that prices are likely to show firmness in the local market. As a result of Hurricane Sandy many financial institutions including the US stock markets were closed through Tuesday. Wall Street firms kept only limited staffing ahead of Hurricane Sandy's approach and many financial professionals worked from home.

The following deals reported: 700 bales from Burewala at Rs 5700, 200 bales from Bhawalpur at Rs 5750, 1000 bales from Khairpur at Rs 5700-5800, 1000 bales from Rajan Pur 5800, 1500 bales from Hasil Pur at Rs 5650,400 bales from Faqirwali at Rs 5700.
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Declining trend persists on cotton market DCMR

DATE:  SEP 20, 2012

DAILY COTTON MARKET REPORT

 

                                    ^{(ANY ERROR AND OMISSION IN THIS REPORT IS NOT OUR RESPONSIBILITY)}

I  M  P  O  R  T  S			SH I P M E N T  S
PERIOD – (MY 2010-11 )		Qty. in  MT	PERIOD (2011-12)	CROP	QTY. in B/S
Aug to JUNE, 2012		159,638	AUG TO JUNE	2012	249,196
JULY, 2012		35,333	JULY 2012	2012	1,068
Source: Federal Bureau of Statistics	Total	194,971	Source: Trade Development Authority of Pakistan	Total	2,50,264

                     

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K.C.A Official Spot Rate for Local Dealings in Pak Rupees                      SEP 19, 2012
FOR BASE GRADE 3 (THREE) STAPLE LENGTH 1-1/16 MICRO NAIRE VALUE BETWEEN 3.8 to 4.9 NCL
Rate For	Ex-Gin Price	Up-country Expenses	Spot Rate Ex-Karachi
37.32 kgs	5,550	155	5,705
40 kgs	5,952	155	6,107

 
 

SEP 19 , 2012
Cotton Futures
OCT 12	74.88	-0.10
DEC 12	76.41	+0.39
MAR 13	77.16	+0.35
MAY 13	78.02	+0.32

 

OPEN MARKET FOREX RATES (PKR)
Currency	Buying	Selling
19/09/12     USD	94.50	95.00
INTERBANK CLOSING RATES (PKR)
Currency	Buying	Selling
19/09/12    USD	94.48	94.54

 

20/09/12      CHINA COTTON INDEX
Index328	18650			+8
Index229	19585			+3
19/09/12     CHINA DELAYED QUOTES
CF211  19355 (20)			CF301   19800   (35)
CF303 19930 (50)
19/09/12         COTLOOK INDICES
‘A’ Index		85.15		(+0.70)

 
 

READY COTTON TRANSACTION IN PAKISTAN (Crop 2012-13)          SEP 19 , 2012
Seller	Station	B/S	Rate	Buyer
PUNJAB
AL HAMD	SHAH JIVNA	200	5700( CON	RAHEEM BAKSH
HAFIZ RIAZ	MULTAN	200	5600	H A FIBER
KISAN	TONSA	200	5725	ZAHID G
MUSLIMCAHNIUT	CHANNIUT	200	5600	BILAL SPINING
IQBAL	KABIRWALA	200	5600	IJAZ SPIINING
WASEEM	VEHARI	200	5500	RAFI MAQBOOL
SHAFIQ	SAHIWAL	200	5575	BILAL FIBER
NAJAF	MUBARAKPUR	200	5600	MALIK
MONGI COTOTN	MONGI BANGLA	200	5700	DEEWAN
CHAUDHARY	BAHAWALPUR	200	5600	MIAN
P G COTON	HAROONABAD	200	5550	INDUS
SINDH
HUMAIR FAQEER	SHAHDADPUR	200	5500	KAHLID SIRAJ
NEW KOHISTAN	HYDERABAD	3400	5475	NEW LAL EXP
KAINAT	GHUT CHAINI	200	5500	NEW LAL EXP
AK ADWANI / LAL QALNDRI	NAWABSHAH	200	5550	NEW LAL EXP
SANGHAM	SHAHDADPUR CHAKAR	200	5550	KHAWAJA BASHIR
NEW LATIF	DHOOR  / BANDHI	200	5550	NEW LAL EXP
LAL	SALEHAPT	200	5650	AKRAM
MUMDI	TANDO ADAM	200	5550	SURAJ
SIND AGRO	SHAHDADPUR	200	5550	CFESCETN FIBER
UNITED	TANDO ADAM	200	5575	CRESCENT FIBER
NEW KOHISTAN	NAWAB SHAH	200	5500	FEROZ
PAYDAR	SANGHAR	200	5500	AL MUQEET
KANWAL	SHAHDADPUR	200	5500	AL MUQEET
QURESHI	MIR PUR KHAS	200	5400	AL MUQEET
SULTANABAD	MIR PUR KHAS	200	5500	CC COMAN
ABAD GAR	HALLA	200	5400	CC COMAN

COTTON UPDATES:
Spot rate after maintaining a stable trend for a long time, came down modestly in process of trading, dealers said. Official spot rate drifted lower by Rs 50 to Rs 5,550, they said. Main trading centres in the city were closed due to strike, they said. In the ready business, over 8000 bales of cotton changed hands between Rs 5400-5700, they said.
Bulls dominated the cotton market on Tuesday as phutti arrivals showed a significant rise because rains almost stopped in the country, dealers said. Official spot rate was unchanged at Rs 5600, they said. In the ready business, over 8000 bales of cotton changed hands between Rs 5475-5650, they said.


 China will not issue import quotas in this year09/18/12

COTTONCHINA In the Analysis meeting for 2012 National Cotton Situation organized by China Cotton Association, Zhang Xianbin, Director, Economic and Trade Department, National Development and Reform Commission, he announced the government will not issue import quotas any more in this year. In addition, the State Reserve sales auction will be suspended on September 29. The result has been a clear upward trend of cotton futures, the spot market mentality also been a slightly improved.

THANKS WITH BEST REGARDS                                           

SH. ISHFAQ AHMAD VOHRA                

SH. ATTA UR REHMAN VOHRA

MEMBER: KARACHI COTTON ASSOCIATION, KARACHI

 

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