Lacklustre conditions on cotton market

No improvement was seen in the present outlook on the cotton market on Monday as both the buyers and sellers indulged in tug-of-war over the prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2700, without upcountry expenses.
According to the market sources, the ginners were not ready to cut down the asking prices, preferring to sell the unsold stock to the foreign countries. The spinners were, however, trying to buy at the less prices but the ginners were not ready to oblige them. No any deal was reported from both the Punjab and Sindh, they 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      2700.00        50                    2750.00

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

40 Kgs         2894.00        50                    2944.00

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