Cotton price are still stable at Rs2525 today in Pakistan, sources of Karachi Cotton Association (KCA) informed.
However KCA noted some changes in cotton arrivals and has released figures of cotton bales registered on March, 1 2006.
Total cotton arrival is 12,306,481 bales, from which bales of Punjab cotton were 9,767,412 and bales of Sindh Cotton were 2,539,069.
In terms of sales of the cotton bales, 12,500 bales of Punjab cotton and 58400 bales of Sindh cotton were purchased by exporters.
Mill owners purchased 8,404,071 bales of Punjab cotton and 2,090,947 of Sindh cotton.
Total unsold stocks as on March 1, 2003 were 1,740,563.
According to Cotlook Indices on March 2, 2006, A Index stood at 59.55 and B Index was 57.25.
New York Cotton Market Closing Delivery released negative changes on March 2, 2006.
Cotton Futures for March – 06 will close at $55.18 from its previous rate of $55.60, but this time registering a decrease of $0.42.
For May futures, it will drop $0.65 from its previous level of $55.36 and will close at $54.71.
Karachi Cotton Association
marketing@alchempro.com
