Good crop news fails in bringing prices down on cotton market

Firm trend was seen on the cotton market on Wednesday despite the news of better production for the current season, dealers said. The official spot was unchanged at Rs 2600, without upcountry expenses.
Market sources said that the news of good production is reaching from the cotton growing areas and this factor might propel the ginners to lower their asking prices.
They said that some 200 bales of cotton (new crop) from Rahimyar Khan sold at Rs 2550 for the 10-12 July. No deal was reported from any stations, dealers said.

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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      2600.00        50                    2650.00

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

40 Kgs         2786.00        50                    2836.00

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