Ginners hold back their stocks for better profits

Listless trading was seen on the cotton market on Friday as most of the dealers kept on the sideline in the absence of fresh leads, dealers said.
The official spot rate was unchanged at Rs 2365, without upcountry expenses. Cotton was trading at Rs 2100-2400 in Sindh and in Punjab it was at Rs 2250-2400, they said.
Some mills were in the market but ginners were not ready to sell their stock at the prevailing rates in anticipation of better profit in the coming days, they said.
Short crop news from the estimation propelled the ginners to hold their stock for the time being to see the next direction of trade in the market, they said.
ACCORDING TO THE REUTERS: the New York Board of Trade's key March cotton contract fell 0.42 cent to end at 53.65 cents a lb, in a band from 53.50 to 54.55 cents. May shed 0.32 to 54.34 cents. The rest declined 0.40 or 0.45 cent.

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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      2365.00        50                    2415.00

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

40 Kgs         2535.00        50                    2585.00

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