Spot rate, prices in ready increase on cotton market

Prices were stable on the cotton market on Monday as buyers were keen to cover the forward requirements, dealers said. The Karachi Cotton Association (KCA) official spot rate was raised by Rs 25 to Rs 2375, without upcountry expenses. Prices of phutti were also stable in the Punjab and Sindh, they said.
According to the market source, the supply was adequate and demand was also strong as the mills were trying to cover the forward sales on apprehension of possible rise in the prices in the coming days.
Picking operation in the Punjab was in full swing and demand is also high for the good quality, dealers said. Approximately, 30,000 bales of cotton were sold from different stations of the country with an increase of Rs 30-40 due to good demand by the spinners, dealers said.
The following deals were registered: 1000 bales of cotton from Shahdadpur sold at Rs 2385-2400, 1000 bales from Sultanabad at Rs 2400, same figure from Tando Adam at Rs 2365-2375, same figure from Nawabshah at Rs 2375-2400, 800 bales from Sarhari at Rs 2400, 1000 bales from Sanghar at Rs 2350-2375, 600 bales from Johl at Rs 2375, 5000 bales from Bahawalpur done at Rs 2440-2450, 4000 bales from Ahmedpur East at the same rate, 2000 bales from same station at the equal level, 2000 bales from Rajanpur at Rs 2450, 2000 bales from Dera Gazi Khan at Rs 2440-2450, same figure from Bahawalpur at Rs 2423-2440, same number from Muridwala at Rs 2425, 1000 bales from Gojra at the same rate, 2000 bales from Hyderabad at Rs 2440-2450, 3000 bales from Khanewal at Rs the same price, 1000 bales from Shujabad at Rs 2450, same figure from Multan at Rs 2440-2450, same from Rahimyar Khan at Rs 2450 and same figure from Sadiqabad at the same rate.

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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      2375.00         50                   2425.00

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

40 Kgs         2545.00         50                   2595.00

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