Cotton market remains dull

Dull session was evident on the cotton market on Wednesday where quiet was stated to have prevailed because of the crucial Pak-India fifth ODI, relevant sources said.
The spot rate was unchanged at Rs 2975 without ST and upcountry expenses.
One of the sharpest falls in New York cotton futures was marked as May lost 2.14 cents to 64.86 and July shed 2.22 cents to 66.18 cents a pound.
No deal was marked in local cotton market as cricket match proved too much for the day.

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The KCA Official Spot Rate for Local Dealings in Pak Rupees

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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"                             MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL

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                                        Ex-Gin Prices          Up-country             Spot Rate Ex-Karachi

Rate                   Ex-Gin             Including            Expenses                          Including

for                    Price            Sale Tax @ 15%                                     Sales Tax @ 15%

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37.32 Kgs             2975.00             3421.25                  50                              3471.25

Equivalent          --------------------------------------------------------------------------------------

40 Kgs                3188.00             3666.20                  50                              3716.20

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