KCA raises cotton spot rate by Rs 25

Karachi Cotton Association's official spot rate was raised on quality factor, dealers said on Tuesday. The official spot rate rose by Rs 25 t0 Rs 2,550, without upcountry expenses. The prices of phutti were also higher slightly in the Punjab and Sindh. A deal in ready from Ahmedpur East finalised at Rs 2,630, they said.
According to the market sources, the spinners are bound to cover their short-term position and ginners were taking advantage of the prevailing situation and raising their profit margins. In fact, the spinners were buying good quality of cotton to meet the export consignments, they said.
The Reuters adds: the New York Board of Trade's March cotton contract jumped 1.56 cents or nearly 3.0 percent to finish at 54.29 cents per lb, trading from 52.51 to 54.30 cents. May cotton rose 1.39 to 55.50 cents. Back months increased from 1.10 to 1.44 cents.
The following deals were reported: 500 bales of cotton from Shahdadpur sold at Rs 2500, 600 bales from Khipro at Rs 2480, 800 bails from Dadu at Rs 2500, 1000 bales from pper Sindh at Rs 2625, 4000 bales from Ahmedpur East at Rs 2600-2630, 2000 bales from Yazman Mandi at Rs 2600, 4200 bales from Lodhran at the same rate, 2000 bales from Bahawalpur at the same rate, same figure from Dera Gazi Khan at Rs 2585-2600, 1200 bales from Tounsa at Rs 2585-2600, 1000 bales from Saralund at Rs 2600, 800 bales from Ganwal at the same rate, 600 bales from Jalalpur at Rs 2600, same figure from Rajanpur at the same rate, 1600 bales from Khanewal at Rs 2575-2600, 400 bales from Farid Abad at Rs 2590, 1000 bales from Hyderabad at Rs 2560, 600 bales from Mailsi at Rs 2585, 1000 bales from Khanpur at Rs 2600, same figure from Sadiqabad at Rs 2600-2625 and 3000 bales from Rahimyar Khan at the same rate.

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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      2550.00        50                    2600.00

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

40 Kgs         2733.00        50                    2783.00

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