Not a single deal reported on the cotton market on Monday due to lack of buying interest by mill, dealers said. The official spot rate was unchanged at Rs 8700, they added. The seed-cotton per 40kg from Lower Sindh was available at Rs 3800-4000, they said. In the ready session, no deal reported till our going to the press, they said.
Market sources said that mills were on the sidelines due to lack of buying interest. Cotton analyst, Naseem Usman said that initially phutti arrivals have started from lower Sindh due to hot weather. It is expected that trading activity may not pick up ahead of Eid-ul-Fitr holidays, other brokers said and adding that buyers were on the sidelines because of the government may impose sales tax on purchase of cotton.

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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"
                                    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 25-05-2019
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37.324 kg          8,700      160         8,860        8,860            Nil
Equivalent
40 kgs             9,324      171         9,495        9,495            Nil
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