Falling trend persists on cotton market

Trading activity almost halted on Saturday due to heavy rains in the city as well as in the upcountry centres, relevant sources said.
The spot rate fell by Rs 40 to Rs 1900, without upcountry expenses, they added.
Cotton from Punjab was available at Rs 1950 and from Sindh was available at Rs 1800-Rs 1925.
According to market sources, phutti prices might rise in the coming days as its supply was stopped due to rains.
Cotton analysts said if rains stopped it would be good but they feared that if rains continued for long time it might affect the quality of cotton.
There was dullness in the market as most of the dealers were exchanging views over the recent rains, because in the monsoon season they just waited for the rains to see some improvement in the prices.

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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      1900.00        50                    1950.00

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

40 Kgs         2036.00        50                    2086.00

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