No change in price level in modest trade on cotton market

Steady trend was again seen on the cotton market on Monday as prices managed to retain the weekend level amid process of modest trading, some brokers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3300. Phutti prices in both Sindh and Punjab were also same at Rs 1200-1600, they said.
Approximately 6000 bales of cotton changed hands between Rs 3355-3490, dealers said. Some cotton analysts said that the prices may show firmness in the absence of buffer stock of cotton and, besides, upward trend in the globe.
It is expected that the ginners may not lower the prices to get more profit but it will depend on the quality factor, they said. The following deals finalised : 800 bales from Sanghar at Rs 3355, same figure from Sadiqabad at Rs 3400, 2000 bales from Rahim Yar Khan at the same rate, 1600 bales from Khanpur at Rs 3490 and 1000 bales from same station done at Rs 3450, 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      3300.00        50                    3350.00

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

40 Kgs         3537.00        50                    3587.00

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