Karachi, March 13, 2013 (PPI-OT): The market has been described as lacklustre. Ginners are unwilling to break their asking rates and mills in need of supply have therefore had to pay up, the range being still between Rs. 6,700 and Rs. 7,000 per maund (roughly 83.50/87.25 US cents per Ib), ex-gin. (Since March 1 domestic prices for better grades have advanced by some Rs. 300 per maund).
Average quality cotton has attracted around Rs. 5,900 to Rs. 6,500 per maund. Sales of imported cotton today have included 200 tonnes of US SJV Pima 2-2-46 from the 2013/14 crop at 154.00 US cents per Ib, and 200 tonnes of Brazilian SLM, 1-3/32′, at 92.50 cents, CFR Karachi.
According to the Trade Development Authority of Pakistan, raw cotton export registrations from August 1 to February 28 totalled 415,656 bales (including 21,229 bales of 2011/12 crop), and shipments totalled 306,967 (65,201).
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