Prices fall as TCP enters into market

Prices started showing downfall in the cotton market on Monday with the entry of the Trading Corporation Pakistan (TCP) to dispose of cotton from its unsold stock, dealers said.
The official spot rate was lower by Rs 15 to Rs 2510, without upcountry expenses.
ACCORDING TO THE MARKET SOURCES: ginners were not very happy over the TCP's decision and held the Corporation responsible for recent falling trend in the prices.
It is obvious that mills may show increased interest in fresh buying of cotton due to cheaper rates. Presently, they were on the sidelines to observe the direction of the market, they said.
A solo deal of 400 bales of cotton from Rahimyar Khan was finalised at Rs 2525.

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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      2510.00        50                    2560.00

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

40 Kgs         2690.00        50                    2740.00

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