Official spot rate was higher on the cotton market on Saturday, dealers said on Friday. The official spot rate was lower by Rs 50Rs 6,400, they said. Price of seed cotton in Sindh per 40 kg were down by Rs 100 to Rs 1900-2800 and, in Punjab rates came down after losing same amount to Rs 2600-3000, dealers said. In the ready session, about 25,000 bales of cotton changed hands between at Rs 6200-6700, they said.
Some brokers said that ginners got panic after conflicting reports about cotton production for the current season. Cotton analyst, Naseem Usman said market is depressed due to different statements coming up, giving an impression of better-than-expected output of cotton. Besides, overall scenario is not encouraging the market to lift from the bottom side, Chine, who was the leading buyers of the world, kept on the sideline after decline in demand from importing countries.
According to Reuters, cotton futures sank 2 percent on Friday and touched a more than ten-month low, weighed by supply pressures, demand worries, and long liquidation. The most-active March cotton contract on ICE Futures US was down 1.58 cent, or 2 percent, at 76.77 cents a lb by 10:54 am EST (1554 GMT), the weakest level since January.
The following deals reported as 600 bales of cotton from Nawab Shah at Rs 6200-6225, 800 bales from Shahdad Pur at Rs 6200-6250, 400 bales from Sanghar at Rs 6250, 1000 bales from Khair Pur at Rs 6350/6400, 1600 bales from Khair Pur (BCI) at Rs 6500, 1200 bales from Upper Sindh (BCI) at Rs 6500, 400 bales from Chistian at Rs 6350, 800 bales from Hasil Pur at Rs 6400-6475, 1600 bales from Burewala at Rs 6400, 600 bales from Daran wal at Rs 6450, 2600 bales from Faqir Wali at Rs 6450, 800 bales from Bahawal Nagar at Rs 6450, 1200 bales from Bahawal Pur at Rs 6450, 800 bales from Fort Abbas at Rs 6500, 400 bales from Lodhran at Rs 6500, 1200 bales from Noor Pur at Rs 6500, 1000 bales from Shadan Lund at Rs 6600, 600 bales from Shujabad at Rs 6600, 200 bales from Sadiqabad at Rs 6625, 400 bales from Ali Pur at Rs 6650, 1600 bales from Mian Wali at Rs 6650-6700, they added.

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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"
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                                    MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate              Ex-Gin   Upcountry   Spot Rate    Spot Rate    Difference
                    For      Price     Ex-Karachi  Ex. KHI. As   Ex-Karachi
                                                  on 22.11.2013
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37.324 Kgs        6,400       155        6,555        6,605             -50
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Equivalent
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40 Kgs            6,859       155        7,014        7,067             -53
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