Active trading was seen on the cotton market on Tuesday as most of the spinners continued buying despite the higher trend prices, dealers said. The Karachi Cotton Association (KCA) official spot was unchanged at Rs 2600, without upcountry expenses.
In fact, leading mills and spinners were hoping that the prices will come down but it could not materialise, instead prices are on the upward march owing the short supply position, they said.
In the ready business the spinner made most of the buying of the inferior types and tried to purchase superior type but failed to finalise. In the meantime the ginners are on the safe side and earning profit according to their will, cotton experts said.
Some time back they were thinking to dispose off the unsold stock on expectations of increased output, but now their profit is increasing with the passage of time, they said.
THE FOLLOWING DEALS WERE REPORTED: 200 bales of cotton from Sanghar sold at Rs 2300, 500 bales from Matiyari at Rs 2350, 2000 bales from Shadadpur at Rs 2500, 1600 bales from upper Sindh at Rs 2625-2650, 800 bales from Khanewal at Rs 2625, 2500 bales from Haroonabad at Rs 2550-2600, 1364 bales from Dunyapur at Rs 2625, 1000 bales from Multan at Rs 2650, same figure from Shujabad at Rs 2625, 700 bales from Bhawalpur at Rs 2650 and 400 bales from Jahanian at Rs 2600.
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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 2600.00 50 2650.00
Equivalent-------------------------------------------------
40 Kgs 2786.00 50 2836.00
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