Cotton prices held present levels on the local market on Monday as leading buyers were conspicuous by their absence in the process of trading, dealers said. The official spot rate was unchanged at Rs 6250, dealers said. In Sindh, seed cotton prices were at Rs 2600-3250, they said that in Punjab, phutti rates were at Rs 2800 and Rs 3500, as per 40 kg, they added.
In the ready session, around 3,000 bales of cotton changed hands between Rs 6250-6500, they said. According to the market sources, one of the leading factors behind the lacklustre business is cotton imports from Indian. Arrivals of quality cotton are slowed down, holidays in the globe and local bank closing caused lacklustre trade activity, they observed. Cotton analyst, Naseem Usman said that the cotton traders were importing cotton to meet their requirements. The following deals reported: 600 bales of cotton from Rohri at Rs 6250, 1200 bales from Dharanwala at Rs 6300 and 1000 bales from Sadiqabad at Rs 6450-6500, dealers said.

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The KCA Official Spot Rate for Local Dealings in Pakistan 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 24-12-2016
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37.324 kg         6,250       135        6,385         6,385            NIL
Equivalent
40 kgs           6,698        145        6,843         6,843            NIL
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