A couple of deals were finalised in Sindh cotton till usual office hours on Tuesday, while actual trading taking place daily is much more, said relevant sources.
The official spot rate of cotton was left unchanged at Rs 2950 without ST and upcountry expenses.
New York cotton futures registered substantial gains. May was up 0.65 cent to 66.55 cents and July was up 0.54 cent to 67.18 cents a pound.
In ready, according to market sources, two deals were struck at prices ranging between Rs 2750 and Rs 2900. They, however, added that daily around 15,000 bales were changing hands but all deals are not made known.
The deals reported were 1300 bales of Tharushah at Rs 2900 and 60 bales of Shahdadpur at Rs 2750.
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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 2950.00 3392.50 50 3442.50
Equivalent --------------------------------------------------------------------------------------
40 Kgs 3162.00 3636.30 50 3686.30
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