Strong buying was again seen on the cotton market on Tuesday as prevailing rates were matching with their export parity levels, dealers said. As a result of increased supply of the phutti, the Karachi Cotton Association (KCA) official spot rate was down by Rs 25 to Rs 2400, without upcountry expenses.
Market sources said that the exporters were busy in cotton purchasing deals from various countries despite the falling trend in the domestic market.
They said that the ginners were confused and a little bit worried about the rising supply of phutti from the Punjab as there is no fear of any damage by the rains or pest attack after the monsoon rains.
According to the Reuters: the New York Board of Trade's December cotton contract shed 0.03 cent to close at 49.06 cents per lb, dealing from 49.05 to 49.45 cents.
It was an inside day since it was within Friday's 49 to 49.69 cents band. March rose 0.07 to 52.58 cents. One contract aside, the rest added 0.05 to 0.20 cent.
The following deals were finalised: 1000 bales of cotton from Shahdadpur sold at Rs 2400, 1200 bales from Mirpurkhas at Rs 2350-2380, 800 bales from Tando Adam at Rs 2350-2390, same figure from Nawabshah at Rs 2400, 400 bales from Sakrand at Rs 2375-4000, 200 bales from Kaziabad at Rs 2375, same figure from Iqbal Nagar at Rs 2400, 600 bales from Garma Raja at Rs 2415-2425, 1000 bales from Vehari at Rs 2390-2395, 600 bales from Chichawatni at Rs 2435-2450, 400 bales from Mongi Bangla at Rs 2435-2450, 200 bales from Burewala at Rs 2410, 400 bales from Liaquatpur at Rs 2400, 1000 bales from Bhawalpur at Rs 2425-2450, 200 bales from Garawal at Rs 2450, 400 bales from Alipur at Rs 2425-2450, 200 balesfrom Bhakhar at Rs 2400, same figure from Bahawalnagar at Rs 2425, 400 from Chistian at the same rate, 200 bales from Ghazi at Rs 2450, same figure from Jhang at the same rate, 200 bales from Hasilpur at Rs 2440, 200 bales from Multan at Rs 2450, 200 bales from Dera Gazi Khan at the same rate and 500 bales from Rajanpur at Rs 2450.

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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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37.32 Kgs      2400.00        50                    2450.00
Equivalent-------------------------------------------------
40 Kgs         2572.00        50                    2622.00
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