They said millers bought 1,480 bales from exporters
varying from Rs5,500 and Rs5,600 per maund, while 1,000 bales were
traded from mill to mill at Rs5,575 per maund. Dealers said a bit of
news revolved around the market that the government would approve nine
Bt cottonseed varieties (four permanently and five for one year)…Official
spot rates stayed unchanged at Rs5,550 per maund and Rs5,948 per 40kgs
for average quality lint, according to the Karachi Cotton Association
(KCA) in the local market…On the other hand, in the world
market there were signs of recovery, as New York cotton futures gained
0.78 and 0.78 cents at 82.28 and 83.52 cents per lb for both the ruling
May and the forward July contracts respectively”
Date:4/7/2010
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