Firmness prevailed in the cotton market on Monday as ginners did not lower the asking rates on anticipation of further rise in the prices, dealers said.
The Karachi Cotton Association (KCA) official spot was unchanged at Rs 2600, without upcountry expenses. In the ready business, deals stuck between Rs 2600 and Rs 2700, dealers said.
Market sources said that trading activity was moderate as mills purchased cotton at the prevailing rates but expecting downward trend in the pries in days to come. The ginners have only eight lakhs bales of unsold cotton stock that's why they are firm and not lowering the pries, they said.
The following deals were reported: 400 bales of cotton from Shahdadpur sold at Rs 2600, 1675 bales of cotton from Bagh-o-Bahar sold at Rs 2700 and 900 bales from Sadiqabad sold at Rs 2636.

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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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