Spinners active on cotton market

Spinners and mills were active buyers on cotton market on Monday in face of rising trend in prices, dealers said.
The official spot rate of grade 3 cotton was unchanged at Rs 1,975 per maund, without upcountry expenses.
Cotton from Sindh changed hands between Rs 1900 and Rs 2000, thousands of bales of cotton were available for sale at rates ranging from Rs 2000 to Rs 2050.
Market sources said that despite the rising trend in prices, the spinners were active and busy in forward buying.
In the meantime, they said, exporters were not taking part in fresh purchasing like previous sessions.

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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      1975.00        50                    2025.00

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

40 Kgs         2117.00        50                    2167.00

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