KCA spot rate slashed by Rs 25 to Rs 3,325 on cotton market

The KCA spot rate was reduced by Rs 25 to Rs 3325 on Wednesday as the spinners and mills were not much active on cotton market; dealers said. The phutti prices both in Sindh and Punjab remain unchanged at Rs 1600-1700. In ready business cotton was sold at a minimum price of Rs 3000 and maximum at Rs 3400, they added.
The down trend on the cotton market is attributed to many factors including the recession world over, low level of foreign exchange in the country, enough stocks with the mills to meet immediate requirements and the ginners determination to hold and not reduce prices as long as they can, market analysts said.
In New York cotton futures settled with slight losses on Tuesday in this dealings as players struggled for leads while fretting if the demand can recover from the recession that has determined fiber consumption, brokers said. The key may cotton contract shed 0.13 cent to finish at 43.78 cents per Lb trading from 43.59 to 44.28 cents, volume in the May contract was at 3,120 lots at 2:42 pm EST
THE FOLLOWING DEALS WERE REPORTED: 1000 bales of cotton from Shahdadpur sold at Rs 3100, 400 bales from the same station at 3000. 600 bales from Rohri, at Rs 3200, 1000 bales from KUMB at Rs 3100, 200 bales from Fort Abbas at Rs 3200, 200 bales from Main Chunnu at Rs 3050, 400 bales from Shjyaabad at Rs 3275, 600 bales from Lodhran at Rs 3325, 1800 bales from Sadiqabad at Rs 3100, 1400 bales from RahimYar Khan at Rs 3300-3400 and 2000 bales from Khanpur at Rs 3325.

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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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37.324 Kgs     3,325.00      100                   3,425.00

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Equivalent

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40 Kgs         3,563.00      100                   3,663.00

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