Cotton prices are steady at Karachi Cotton Association (KCA)with the spot rate Rs2475 per maund, as per the figures released today.
Transactions that took place today at several cotton stations are as follows:
Around 1000 bales changed hands at APE for Rs2500, 1000 bales at B.Bahar at Rs2480, 400 bales at C.Goth for Rs2450, 3000 bales at KPR for Rs2500, 2000 bales at NPN for Rs2500, 5000 bales at RYK at Rs2500/2550, 1000 bales at SDK at Rs2500 and 3400 bales at UpperSindh for Rs2475/2500 per maund.
According to Cotlook Indices (January 19, 2006), A - Index stood at 58.65 and B - Index was recorded at 56.65.
New York Cotton Futures Market Closing Delivery for March and May 2006 released on January 19, 2006 opened at $54.80, reaching a high of $55.89 and then touching a low level at $54.70. March 06 previous opening was at $54.56and closed at 55.76 gaining $1.20.
While for May 2006, opening price stood at $55.99, where as high and low levels remained at $56.95 and $55.95 respectively. The previous rate was $55.79 and the same closed at $56.88 recording a $1.09 gain.
Meanwhile Pakistan Cotton Ginners Association has released a consolidated statement of cotton arrivals in factories of the country as on January 15, 2006.
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