Cotton prices are increased by Rs10 per maund, sources of Karachi Cotton Association (KCA) revealed today.
With this increase, prices of cotton across Pakistan now pegged at Rs2545 per maund.
According to Cotlook Indices, A Index was 60.90 and B Index was 57.75 on February 17, 2006.
Transactions took place on February 18, 2006 at several cotton stations as follows:
Around 600 bales changed hands at Alipur for Rs2575, 1000 at RYK between Rs2575 and Rs2600, 2000 bales at SDK between Rs2525 and 2600 and 5000 bales at Upper Sindh for Rs2500/2585.
New York Cotton Market Closing Delivery on February 17, 2006 has issued positive changes for the month of March 06 and May - 06.
Opening price for March 2006 will be $56.90, high and low levels will be $57.50 and $56.80; previous rate will be $56.46 and close at $57.43. This shows an increase of $0.97.
In May 2006, price will open with $56.95, high and low levels will be $57.60 and $56.90; previous rate will be $56.62 and close at $57.34. This also reflects a rise of $0.72.
Karachi Cotton Association
marketing@alchempro.com
