All new crop lots lifted on cotton market

It was second day running when all new crop cotton was on offer and spinners lifted all lots, relevant sources said.
The official spot rate of cotton was reduced by Rs 50 to Rs 2350 without Rs 50 upcountry expenses.
Nearly 2500 bales of new crop changed hands at prices between Rs 2200 and Rs 2300.
The futures in New York were marginally up. October gained 0.10 cent to 43.83 and December was up 0.28 cent to 44.40 cents a pound.
Following deals were noted: 100 bales of Mirpur Khas at Rs 2300; 100 bales at Rs 2275; 1000 bales at Rs 2250; 200 bales of Pithoro at Rs 2250; 200 bales of Sanghar at Rs 2200; and 200 bales of Mirpur Khas at Rs 2200.

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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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Rate           Ex-Gin     Upcountry    Spot Rate Ex-Karachi

for            Price                        Sales Tax @ 15%

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37.32 Kgs      2350.00        50                    2450.00

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

40 Kgs         2572.00        50                    2622.00

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