The Karachi Cotton Association (KCA) official rate remained unchanged at Rs 2,275 without upcountry expenses.
Market sources said that activity was in full swing despite no change in the price trend. Trading was seen in the range of Rs 2350 to Rs 2375, they said.
According to market sources, cotton prices are likely to demonstrate muscle as PSF prices are bound to oil prices surge, though buyers cannot but buy lint to gradually fatten their inventory.
Most of the deals were seen at Rs 2350 New York cotton futures were not received.
Following deals were reported: 800 bales of Tando Adam at Rs 2375; 500 bales of Mirpur at Rs 2350; and 200 bales of Shahdadpur at Rs 2375.
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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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