A few deals were seen on the cotton market on Monday ahead of the Trading Corporation of Pakistan (TCP)'s tender on 31, dealers said. The official spot rate was unchanged at Rs 2425, without upcountry expenses.
Cotton prices remained under pressure in both Sindh and Punjab due to lack of buying interest, dealers said.
According to the market sources, the market players were not interested in the fresh buying on expectations of further fall in the prices. In the meantime, ginners were not happy under the circumstance as they have enough stock to dispose of.
Following deals were reported: 247 bales of cotton from upper Sindh, 6400 bales from Khanpur and 674 bales from Rahimyar Khan at Rs 2475.
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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 2425.00 50 2475.00
Equivalent-------------------------------------------------
40 Kgs 2599.00 50 2649.00
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