Cotton market remains dull

Dullness prevailed on the cotton market on Saturday as leading buyers kept on the sidelines being less interested in new business, dealers said. The official spot rate was unchanged at Rs 2500, without upcountry expenses.
Many buyers anticipated falling rend in the prices, but some of them were covering their needs to meet the immediate needs and buying fine quality even at the higher rates, they said.
Picking operation were still suspended due to wet field, but the operation may start from the next week, market players hoped,
ACCORDING TO THE REUTERS: the New York Board of Trade's December cotton contract slipped 0.87 cent to close at 56.28 cents per lb., after trading from 55.75 to 57.15 cents. March lost 0.77 cent to 59.13 cents, and the rest fell from 0.45 to 0.75 cent.
Not a single deal was reported at the week-end, 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      2500.00         50                   2550.00

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

40 Kgs         2679.00         50                   2729.00

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