Spot rate was reduced mercilessly by Rs 75 to Rs 2275 without Rs 50 upcountry expenses. The two deals in ready were in Sindh's new crop at Rs 2200.
New York cotton futures were not received.
Sources said that ginners, longing for selling the current crop cotton, were stuck up at a great loss. The new crop is being patronised by spinners though itias not available in quantity desired by the buyers.
Following deals (all new crop) were noted: 300 bales of Sultanabad and 200 bales of Mirpur Khas both at Rs 2200.
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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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37.32 Kgs 2275.00 50 2325.00
Equivalent-------------------------------------------------
40 Kgs 2438.00 50 2488.00
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