Seed-cotton prices were higher on the cotton market on Monday as buying was accelerated to meet the forward deals, dealers said.
The official spot rate advanced with a rise of Rs 16 at Rs 2165, without upcountry expenses. Phutti traded in Sindh at Rs 1000 and in Punjab at Rs 1050, they said.
Cotton prices in Sind were at Rs 2250 and in Punjab it was available at Rs 2250-2275 due to rising demand by mills.
Market sources said that seed-cotton prices went up on tight supply position following the damages to the standing crop.
According to the market sources, prices were inching up on anticipation after the news that rains in the cotton growing areas damaged the crop.
Exporters were also in the market to meet their export orders, dealers said.
FOLLOWING DEALS WERE REPORTED: some 1200 bales of cotton from Mirpurkhas at Rs 2190-2200, 400 bales from Tando Adam at Rs 2180-2190, 3600 bales from Shahdadpur at Rs 2225, 6000 bales from Jhole at the same rate, 6000 bales from Tando Adam at Rs 2110, same numbre from Nawabshah at Rs 2215, 400 bales from Vehari at Rs 2225, 600 bales from Lodhran at Rs 2210, 400 bales from Chistian at Rs 2225, 800 bales from Rajanpur at Rs 2225, 400 bales from Burewala at the same rate and 200 bales from Gharamor at the equal level.
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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 2165.00 50 2215.00
Equivalent-------------------------------------------------
40 Kgs 2320.00 50 2370.00
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