Holiday mood prevails on cotton market

Lacklustre business was again witnessed on the cotton market on Monday as most of the participants kept on the sidelines due to unavailability of transport, dealers said. The official spot rate was unchanged at Rs 3900, they said.
Phutti prices in Sindh were at Rs 1850-1900 and in Punjab, the rates were same at Rs 1775-1850, (per 40 kg), they said. According to the market sources, the leading buyers were on the sidelines in the absence of transport facility. They said that the cotton market may witness further dullness before and during the holidays.

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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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37.324 Kgs     3,900.00      100                   4,000.00

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Equivalent

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40 Kgs         4,180.00      100                   4,280.00

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