Sindh styles hot favourite on cotton market

Sindh cotton was traded on the cotton market on Wednesday as the sellers kept Punjab cotton for a buyer who can pay higher, relevant sources said. The prices combined to show downtrend which were pretty attractive for the buyers, they said. The spot rate of grade III cotton was lowered by Rs 25 to Rs 2450 without Rs 50 upcountry expenses.
The day saw four deals struck, all in Sindh cotton, including one of new crop and priced between Rs 2125 and Rs 2425.
The spinners showed interest in quality cotton at reasonable price. They have been quite watchful about developing trend in world cotton prices.
New York cotton futures on Wednesday signalled downtrend. October was down 0.37 cent to 43.94 and December 0.52 cent to 44.52 cents a pound.
Following deals were reported: 200 bales of Mirpur at Rs 2400; 100 bales at Rs 2425' 300 bales of Shahdadpur at Rs 2175 (new crop); and 400 bales of Mehrabpur at Rs 2125.

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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      2450.00        50                    2500.00

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

40 Kgs         2626.00        50                    2676.00

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