Ginners not happy with slow pace of trading

Movement sustained on the cotton market with four deals struck at much below spot rate, the relevant sources said on Saturday. The spot rate was maintained at Rs 2500 without Rs 50 upcountry expenses.
The four deals had price range of Rs 2200 to Rs 2400 per maund.
In New York, movement reversed and futures were down modestly. October was down 0.40 cent to 46.45 and December down same amount to 46.62 cents a pound.
Meanwhile, the players were not happy with the slow pace of trading, particularly the ginners were pretty disturbed due to nearly 300,000 bales still remaining with them.
Following deals were reported: 200 bales of Ghotki at Rs 2300; 600 bales of Daharki at Rs 2300; 300 bales of Mehrabpur at Rs 2200; and 2000 bales of Nurpur Nauranga at Rs 2400.

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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      2500.00        50                    2550.00

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

40 Kgs         2679.00        50                    2729.00

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