Cotton prices are pegged at Rs2525 per maund at Karachi Cotton Association (KCA) on Dt.11/2/2006.
This is a slight increase from its previous level of Rs2510 per maund.
In ready cotton transactions, on February 11, 2006, around 1000 bales transacted at APE for Rs2525/2550, at Khanpur 1000 bales sold for Rs2525 and 200 bales for Rs2425, 600 bales changed hands at VHR for Rs2545 and 500 bales at Samandari for Rs2500.
According to Cotlook Indices, A Index stood at 60.90 and B Index was 58.25.
As on February 1, 2006, total arrival of cotton bales was 12,017,527 from which Punjab dominated with 9,537,182, while Sindh registered 2,480,345 bales of cotton.
In terms of sales of cotton bales, exporters from Punjab purchased total 12,100 bales and Sindh exporters took 58,300, making a total of 70,400 bales.
Mill owners from Punjab purchased 7,772,754 bales and from Sindh, 1,896,748 making a total of 9,669,502 bales.
Total unsold Stocks as on February 1, 2006 was 2,277,625 bales of cotton.
On February 10, 2006, New York Cotton Futures Market Closing Delivery has forecast some negative changes for the month of March - 06 and May - 06.
Opening price for March 2006 will be $56.15, high and low levels will be $56.40 and $55.92; previous rate will be $56.42 and close at $55.97. This shows a decrease of $0.45.
In May 2006, price will open with $57.50, high and low levels will be $57.75 and $57.26;previous rate will be $57.96 and close at $57.38. This also reflects a reduction of $0.58.
Karachi Cotton Association
marketing@alchempro.com
