Over 2000 bales changed hands on cotton market on Saturday as prices showed firm trend, relevant sources said. The rates in ready, however, maintained higher trend depicting caution that price rise could be expected, they added.
The spot rate was unchanged at Rs 2175 without ST and upcountry expenses.
In ready, three deals were noted between price range of Rs 3050 and Rs 3000.
New York cotton futures were down. May shed 0.07 cent to 66.35 and May yielded 0.48 cent to 68.18 cents a pound.
The market reported following deals: 200 bales of Sakrand at Rs 3050; 1000 bales of Rahimyar Khan; and 1000 bales of Khanpur at Rs 3300 each.
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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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Ex-Gin Prices Up-country Spot Rate Ex-Karachi
Rate Ex-Gin Including Expenses Including
for Price Sale Tax @ 15% Sales Tax @ 15%
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37.32 Kgs 3175.00 3651.25 50 3701.25
Equivalent --------------------------------------------------------------------------------------
40 Kgs 3403.00 3913.45 50 3963.45
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