TCP sells more than offered cotton bales

Lacklustre trading was seen on the local cotton market on Tuesday as most of the millers and spinners were busy in the Trading Corporation of Pakistan (TCP) auction, sources said. The Karachi Cotton Association (KCA) official spot rate remained unchanged at Rs 2300 without upcountry expenses.
The TCP sold about 208,000 bales of cotton to the mills against 93,000 bales of cotton, indicating that the supply has to be high to meet the demand, cotton experts said.
At the same time, the TCP has no idea about the exporters' response or how they meet the corporation's price mark of 48.10 cent per pound, they said.
Attraction of higher prices, propelled some ginners to sell their stock to fetch the better profit, they noted.

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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      2300.00        50                    2350.00

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

40 Kgs         2465.00        50                    2515.00

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