Lack of buying interest again witnessed among the leading buyers on the cotton market on Monday, dealers said. The official spot rate was unmoved at Rs 6650, they said. In Sindh, seed cotton prices were lower by Rs 100 to Rs 3300-3400, they said. In Punjab, phutti rates were at Rs 3300 and Rs 3700, as per 40 kg, they added.
In the ready session, only one deal of 1255 bales of cotton from Salehpat reported Rs 6800, they said. According to the market sources, yarn is not in demand due to lack of buying interest. The other leading factor behind the sluggish business is falling trend in the global market, other experts said. Cotton analyst, Naseem Usman said that as a whole it appeared that the world leading cotton markets remained under correction. Locally, some leading spinners and mills have already covered their short position, which slowed down the volume of business these days, other experts observed.

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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 1-1/16"
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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    Expenses    Ex-Karachi  Ex. KHI, As   Ex-Karachi
                                                  on 18-02-2017   in Rupees
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37.324 kg         6,650      135        6,785         6,785             NIL
Equivalent
40 kgs            7,127      145        7,272         7,272             NIL
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