No let-up in slow trading on cotton market

Only one deal was reported on cotton market on Saturday and both players, buyers and sellers expected that faster pace in trading might be seen from Monday, relevant sources said.
The official spot rate was unchanged at Rs 2900 without Rs 50 upcountry expenses.
The only deal struck was for 2000 bales of Bahawalpur, done at Rs 2700.
In weekend trading New York cotton futures ended mixed. July was up 0.60 cent to 47.25 and October was down 0.60 cent to 49.47 cents a pound.

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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      2900.00        50                    2950.00

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

40 Kgs         3108.00        50                    3158.00

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