Modest trading was seen on cotton market on Wednesday as spinners and mills both actively participated in trading owing to matching prices with their psychological levels, dealers said.
The spot rate was unchanged at Rs 2350 without upcountry expenses.
In the meantime, supplies were not enough to meet the market demand as a few ginning factories had resumed operations because of interruption in picking operation of phutti in the backdrop of recent spell of monsoon in cotton belt of Sindh and Punjab, market pundits said.
New York October was up 0.15 cent to 45.05 and December was down 0.04 cents to 45.71 cents.
Following deals were reported: 200 bales of Mirpur Khas at Rs 2350; 200 bales of Shahdadpur at the same rate and same number from Pitaro at Rs 2360.
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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 2350.00 50 2400.00
Equivalent-------------------------------------------------
40 Kgs 2518.00 50 2568.00
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