Cotton market remains dull

There was no deal on cotton market until end of office hours on Friday, said relevant sources.
The official spot rate of grade III cotton was unchanged, though ginners appeared greatly confused how to bring the prices in their favour.
The signal from New York was also depressing as near two months depicted mixed trend. May rose by 0.32 cent to 60.32 and July down 0.25 cent to 59.38 cents a pound.
The trading in New York added to spinners' hope that prices were likely to persist depressed. The irregular movement lately can however foil any idea about prices moving either way.
However, sources hoped the cotton needs continue and spinners cannot stay away from market for long.

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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             2875.00             3306.25                  50                              3356.25

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

40 Kgs                3081.00             3543.00                  50                              3593.15

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