The spot rate remained unchanged on the cotton market on Thursday in process of listless trading, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3100, they said.
Phutti prices in both Punjab and Sindh showed no change at Rs 1350-1450, they added. Some brokers said that no activity was seen on the cotton market due to transportation problem and lack of buying interest among the spinners. It seems that proper business may start after the general election and release of the Pakistan Cotton Ginners Association (PCGA) report, dealers said.
The NY cotton futures failed to make any progress on Wednesday as the ICE Futures' open-outcry March cotton contract eased 0.11 cent to end at 66.91 cents per lb, trading between 66.80 and 67.25 cents. Based on the spot daily closing charts, it was the lowest finish for cotton in three weeks.
May cotton shed 0.16 to 68.64 cents. The new-crop December cotton contract lost 0.22 to 75.34 cents. The March electronic cotton contract eased 0.05 cent to 66.97 cents at 2:52 pm EST (1952 GMT), dealing from 66.70 to 67.37 cents. Not a single deal was reported till our going to the press.

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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      3100.00        50                    3150.00
Equivalent-------------------------------------------------
40 Kgs         3322.00        50                    3372.00
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