KARACHI:The cotton price in the country is on declining trend as the world cotton markets also remained under pressure where New York cotton finished lower for all the future contracts with maturing December 2014 and March 2014 contracts quoted below 60 US cents a pound.
According to some floor brokers, phutti (seed cotton) influx is growing domestically but slower off-take is keeping prices under pressure, adding, “Gas and power crisis is a major factor which is forcing textile industry to increase their cotton stocks.
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The Karachi Cotton Association fixed the official base price for Grade 3 cotton at 5,251 rupees per maund (40 kg).
Grade 3 cotton has a staple length of 1-1/16″ (inches) and micronaire value between 3.8 to 4.9 NCL (no control limits) which represents fine to coarse classes of cotton varieties.
In the kerb market the key crop varieties traded in the range of 4,650 to 5,125 rupees per maund.
Following are the grade and staple margins for November 16 to 30
1/32″ 1″ 1-1/32” 1-1/16” 1-3/32” 1-1/8″
Super -54 0 +54 +161 +268 +375
1 -107 -54 0 +107 +214 +322
2 -161 -107 -54 +54 +161 +268
3 -214 -161 -107 BASE +107 +214
4 -429 -322 -268 -214 0 +107
5 -482 -375 -322 -268 -54 +54
