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No business was seen on the cotton market on Friday amid post-holiday session though all the markets re-opened officially, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2375, without upcountry expenses.
Market sources said that there was no business activity in the market as participants were busy in exchanging Eid greetings. They said that the trading may gain momentum next week.



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The KCA Official Spot Rate for Local Dealings in Pak Rupees
-----------------------------------------------------------
FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
===========================================================
Rate Ex-Gin Upcountry Spot Rate Ex-Karachi
for Price Sales Tax @ 15%
===========================================================
37.32 Kgs 2375.00 50 2425.00
Equivalent-------------------------------------------------
40 Kgs 2545.00 50 2595.00
===========================================================

Copyright Business Recorder, 2006

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