A couple of deals were reported on Wednesday on cotton market after two days of cheerless conditions, said relevant sources.
The officials spot rate of grade III cotton was left unchanged at Rs 2950 without ST and upcountry expenses.
Two deals, both belonging to Punjab, were reported at Rs 3150 and Rs 3200 per mound.
New York cotton futures again lost substantially. July shed 0.39 cent to 64.15 and October shed 0.40 cent to 63.10 cents per pound.
Sources expressed the hope that spinners might return to market as world rates showed weakening for two days running.
Following deals were noted: 1200 bales of Bahawalpur at Rs 3150 and 400 bales of Vehari at Rs 3200.

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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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