Activity improves on cotton market

Trading activity improved on the cotton market on Friday as ginners showed some flexibility in their attitudes ahead of the Pakistan Cotton Ginners Association (PCGA), dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2525, without upcountry expenses.
Some dealers said that the main buyers were little active as prices matched with the mills' parity levels. But it's a fact, that sellers were hoping for the rise in the prices in days to come due to shortage of unsold stock, they said.
They said that dominating was the release of the Pakistan Cotton Ginners Association (PCGA) report, which will definitely give future strategy to both buyer and seller.
According to the Reuters: the New York Board of Trade's May cotton contract gain 0.76 cent to settle at 53.82 cents per lb, in a band from 53.10 to 53.83 cents. The rest rose from 0.50 to 0.95 cent. The IntercontinentalExchange's NYBOT electronic market for cotton showed the May contract up 0.77 cent to 53.83 cents at 2:37 pm EST (1937 GMT), dealing from 52.85 to a lifetime peak of 54.10 cents.
Following deals were finalised as some 100 bales of cotton from Tandoadam sold at Rs 2600 (B.T), 1150 from Ranipur at Rs 2500, 1000 from Nawabshah at Rs 2450, 1500 from Shahdadpur at Rs 2590 (BT), 541 bales from same station at Rs 2400, 300 from Sanghar at Rs 2490, 200 from Shahpur Chaker at Rs 2575 (BT), 4000 from Khanewal at Rs 2605, 1300 from Rahamyar Khan at the same rate, 600 from Rajanpur at Rs 2570, 200 from Karorpacca at Rs 2550, 400 from Taunsha Shariff at Rs 2450 and 1000 from Jalalpur at Rs 2550.

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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      2525.00        50                    2575.00

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

40 Kgs         2706.00        50                    2756.00

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