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Trading accelerates on cotton market
KARACHI (April 06 2004): A fresh deal in cotton
was reported till office hours but operators said
good quantity deals was expected late in the
night, relevant sources said on Monday.
These sources said that spot rate was unchanged at
Rs 2900 without ST and upcountry expenses.
Only deals was reported in ready at Rs 3000---Rs
100 above spot rate. That deals made are more than
what are reported.
This was confirmed from the number of deals
printed in the DMR on April 5, 2004. Sources said
that spinners may plan to import cotton from any
country but cotton available in Pakistan should be
preferred from price point of view.
However, spinners plan to import cotton from
abroad to press the ginners---for obvious reasons.
Deals reported having struck on Saturday were: 400
bales of Rajanpur at Rs 2850; 1000 bales of
Bahawalpur and Samandan at Rs 3000 and Rs 2900,
respectively; 200 bales of Samandan at Rs 2850;
200 bales of Khanpur at Rs 2900; 200 bales of
Khanpur at Rs 2950; 4000 bales of Shujaabad at Rs
3000; and 2200 bales of Vehari at Rs 2850.
The deal struck on Monday was for 1000 bales of
Alipur at Rs 3000.
Courtesy Business Recorder |
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Pakissan.com; Advisory Point
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