Spot rates raised by another Rs 15

The official spot rate maintained its upward march on the cotton market on Friday as mills remained active to cover the forward needs, dealers said. The Karachi Cotton Association (KCA) official spot rate posted fresh gain of Rs 15 to Rs 2400, without upcountry expenses.
Phutti prices in Sindh were at Rs 1125-1225. It was selling at Rs 1150-1200 in Punjab, they added. According to the market sources activity was slackened marginally as most of the buyers kept on the sidelines due to Pakistan Cotton Ginners Association (PCGA) report and partly because of closer of factories owing to Friday prayers. Mills were buying cotton continuously amid rising speculations about the short supply of cotton in the coming days, they said.
REUTERS ADDS: the New York Board of Trade's December cotton contract fell 0.81 cent to settle at 47.88 cents per lb, moving from 47.80 to 49.20 cents.
March shed 0.71 to 51.40 cents. The rest lost 0.45 to 0.71 cent.
THE FOLLOWING DEALS WERE FINALISED: 1000 bales of cotton from Sanghar sold at Rs 2325-2350, 400 bales from Tando Adam at Rs 2325, 1000 bales from Tando Mohammad Khan at Rs 2350-2425, 1000 bales from Muridwala at Rs 2450, same figure from Gojra at the same rate, same figure from Mongi Balawal at the same rate, same figure from Khanewal at the same figure, 3000 bales from Bahawalpur at Rs 2450-2475, 400 bales from Galywal at Rs 2475, 5000 bales from Lodhran at Rs 2475, 3000 bales from Rahim Yar Khan at Rs 2450-2475, 1000 bales from Ahmedpur East at Rs 2475, 400 bales from Chinu goth at the same rate, 2000 bales from Alipur at the same rate, 800 from Mirpur at the same rate, 1000 from Uch sharif at the same rate, 2000 bales from Liquatpur at Rs 2450-2475 and 400 bales from Hyderabad at Rs 2450.

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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      2400.00        50                    2450.00

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

40 Kgs         2572.00        50                    2620.00

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