Slightly improved trading was noted in cotton despite it being Friday and prices keeping adamantly firm, said relevant sources.
The official spot rate of cotton was not revised and left at Rs 3225 without ST and upcountry markets.
In ready more or less 7000 bales of cotton changed hands at prices ranging between Rs 2875 and Rs 3300 per maund.
Cotton futures in New York trading maintained firmer outlook; a low jump was made, such as March 0.16 up to 75.82 and May up 0.19 to 77.07 cents a pound.
Following deals were lifted from the DMR: 200 bales of Sanghar at Rs 2875; and 200 bales of Shahdadpur and Sanghar each were done at Rs 3000; 600 bales of Nawabshah at Rs 3140 (above three deals were conditional); 2000 bales of upper Sindh, DRK, Ghotki, MPM and KPM at Rs 3225; 1000 bales of MRP at Rs 3200; 800 bales of Haroonabad at Rs 3225; and 2000 bales of Sadiqabad at Rs 2900/3300.
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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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Ex-Gin Prices Up-country Spot Rate Ex-Karachi
Rate Ex-Gin Including Expenses Including
for Price Sale Tax @ 15% Sales Tax @ 15%
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37.32 Kgs 3225.00 3708.75 50 3758.75
Equivalent --------------------------------------------------------------------------------------
40 Kgs 3456.00 3974.40 50 4024.40
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