Spot rate pushed up by Rs 50 on cotton market

Official spot rate was raised modestly on brisk demand by the exporters and mills in anticipation of further increase in the rates, dealers said. The official spot rate was set higher by Rs 50 to Rs 4125, they said. Phutti prices in Sindh were at Rs 1950-1975 and in Punjab at Rs 1850-1925, they said. Some brokers said that the market was tight on strong demand by the mills and exporters.
It is likely that the prices will continue the present trend in the coming days as demand is high following the fears of short crop. In the meantime, the mills were trying to cover their forward buying to make themselves safe from future losses, they added.
THE FOLLOWING DEALS WERE REPORTED: 5000 bales of cotton from Shahdadpur sold at Rs 4175-4200, 4000 bales from Tando Adam at Rs 4175-4200, 1000 bales from Hyderabad 4175-4200, 3000 bales from Sanghar at Rs 4175-4200, 1600 bales from Mirpur Khas at Rs 4125-4175, 1000 bales from Khipro at Rs 4150-4175, 1000 bales from Shahpur Chakar at Rs 4175-4200, 800 bales from Hala at Rs 4175-4200, 400 bales from Jhole at Rs 4175-4200, 400 bales from New Saeedabad, 4175-4200, 1200 bales from Pakpattan at Rs 4100, 1000 bales from Burewala at Rs 4100-4125, 1200 bales from Mian Channu at Rs 4100-4125, 1000 bales from Chichawatni at Rs 4100-4125, 1000 bales from Gajjo at Rs 4100-4125, 1000 bales from Haroonabad at Rs 4100 and 400 bales Gojra at Rs 4100, dealers said.

===========================================================

The KCA Official Spot Rate for Local Dealings in Pak Rupees

-----------------------------------------------------------

FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"

 MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL

===========================================================

Rate           Ex-Gin     Upcountry    Spot Rate Ex-Karachi

for            Price                        Sales Tax @ 15%

===========================================================

37.32 Kgs     4,125.00        50                   4,225.00

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

40 Kgs        4,421.00        50                   4,521.00

===========================================================