- Here’s An Opinion On:
- Financial Advisor
By Himfr Paul
As the New York cotton prices surged and the market is expected to domestic production shortage, driving up ginning factory bid price of cotton in Pakistan.
There are several document quality cotton to Rs 3,250 transactions, while the day before the closing price of Rs 3100/3200. Do not want a high price for cotton ginning plant purchase. Now they are with, generous to Rs 3100/3200 to improve inventory, but they do not want to chase high prices.
However, the demand for quality cotton mills pushed the price to Rs 3150/3250, while the low-quality cotton prices in the 2850/3050 rupees. As the end of the year of the reason, textile purchase delay, they would prefer to digest inventory. Textile mills do not want to purchase the other half of the reason is that they have to adjust the huge amount of liquidity in bank overdraft.
Most of the time last week, cotton prices stable at Rs 3100/3200, but suddenly at the weekend rose 50 rupees, because of increased ginning factory bid. This just say they like the cotton price trend in the next few weeks, so keep the hands of the position. Obviously, based on their favorable cotton prices because the market is estimated that cotton production this year is not more than 9 million package. Most people think that spinning plant will keep a low profile at the end of the year, because most of the factory stock abundance. They have already sold the first quarter of 2004, prepare a sufficient yarn of cotton.
Official imports has increased to 289,000 packages a year earlier while imports of 12.2 million bales. Some overseas has been the arrival of cotton. Market sources said that about 200 million bales to fill the gap, so far has been contracted imports of 80 million bales. Sources said, when the actual output next month, announced the end when all the doubts on the cotton yield will be dissipated. But then, a large number of phutti cotton ginning factory should be delivered.
A full week last week, cotton prices remained stable. Transaction price in the 3200 high-quality cotton / 3250 rupees, while the low-quality cotton prices in the 2800/2900 rupees. Transaction price in the quality of cotton in 3000/3100 rupees. Sindh Cotton Phutti Rs 1,000 per 40 kg offer high-quality cotton prices 1400/1450 phutti Rs. Punjab Rs 1500 offer high-quality phutti cotton, low-grade cotton prices quoted Rs 1100/1200. Official spot price stability in 3125 rupees.
According to experts, according to Pakistan’s cotton ginning factory Association (PCGA) 12 data released half of the month, production of 920-930 million bales of cotton, cotton since the beginning of phutti to package volume was 7.482 million. However, the Government will fix the national cotton output of 10 million package. Part of the ginning factories is estimated at 850-860 million bales production. Brokers that since the end approaching, the business people to adjust and prepare the New Year bank overdraft, so very few people enter the market in recent days.
Last week, the yarn market, strong buying, the price firm. International market cotton prices remained firm.
No official spot price movements, remain at 3125 rupees. Spot number 10,000 package, including 15 million package from Sindh and the rest from Punjab. Sindh province had 200 bales of cotton in the selling price of cotton in 2850 Shahdadpur Rs 400 package Sakrand selling price of cotton in 3050 rupees, 200 bales were sold at 3250 rupees Khanpur, 1000 package Sadiqabad cotton prices in the 3150/3200 rupees, 200 bales of cotton Punjmoro prices in 3025 rupees, 400 package Naushehro Feroz cotton prices in 3060 rupees. Punjab cotton 2000 cotton bag Khanpur sold in 3250 to Rs 1000 Rs 3150/3200 package Sadiquabad selling price of cotton, 1,000 selling price of cotton in the 3150 package Haroonabad Rs 1000 package Rahimyar Khan cotton, cotton, Ask 1,000 package Ahmedpure East in 3050 / 3150 rupees, 2000 package DG Khan selling price of cotton in 3070/3250 rupees.
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