Bearish trend was seen on the cotton market on Monday as prices failed to resist further decline after delay in the ginners and Trading Corporation of Pakistan (TCP) meeting, dealers said. The official spot rate was lowered by Rs 75 to Rs 2875, they said.
The phutti prices in Sindh and Punjab were at weekend levels at Rs 1350-1450, they said. In the ready business, according to the market sources, the ginners' meeting with the TCP is delayed, the moot will be held on Wednesday instead of Tuesday. In the meantime, the ginners were hoping that the prices will stabilise after the meeting, they said.
The following deals were reported: 800 bales from Shahdadpur at Rs 2700, 400 bales from Tando Adam at Rs 2700, 1200 bales from Sanghar at Rs 2700-2750, 1000 bales from Khipro at Rs 2700, 400 bales from Dadu at Rs 2810, 1000 bales from Upper Sindh at Rs 2900-2950, 2000 bales from Uch Sharif at Rs 2900-2950, 2000 bales from Khanewal at Rs 2900-2950, 400 bales from Arifwala at Rs 2800, 400 bales from Sadiqabad at Rs 3000, 400 bales from Khan Pur at Rs 2950, 600 bales from Pul Bagar at Rs 2800, 1000 bales from Bahawal Nagar at Rs 2800, 200 bales from Jahanian at Rs 2800, 400 bales from Chichawatni at Rs 2900-2950, 1000 bales from Rahim Yar Khan at Rs 2900-2950, 200 bales from Shadan Lund at Rs 2900, 200 bales from Kahror Pacca at Rs 2850, 400 bales from Dera Ghazi Khan at Rs 2900, 2000 bales from Ahmed Pur at Rs 2900-2925, 4000 bales from Bahawal Pur at Rs 2900-2925, 1000 bales from January Pur at Rs 2900, 400 bales from Liquat Pur at Rs 2900 and 400 bales from Hyderabad at Rs 2800, they said.

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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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37.324 Kgs     2,875.00      100                   2,975.00
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Equivalent
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40 Kgs         3,081.00      100                   3,181.00
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