Following a reduction of Rs25 per maund, cotton price stood at Rs2525 on Tuesday, and even today, the prices remained stable in Pakistan, revealed Karachi Cotton Association (KCA).
Unlike yesterday, when only one station recorded transaction, on March 1, 2006, four stations recorded transactions of bales in bulk.
More than 9500 cotton bales changed hands, among them 2000 bales transacted at Bhawalpur station for Rs2550, 600 bales at Karor Pacca for the lowest price of Rs2475, 3000 at Khan Pur for Rs2575 and 4000 bales transacted at Upper Sindh for Rs2575 per maund.
According to Cotlook Indices on February 28, 2006, A Index stood at 59.55 and B Index was 57.10.
New York Cotton Market Closing Delivery released positive changes on February 28, 2006.
Cotton Futures for March – 06 will close at $56.00 from its previous rate of $55.45, registering an increase of $0.55.
For May futures, it will increase $0.42 from its previous level of $55.02 and will close at $55.44.
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Karachi Cotton Association
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