The official spot rate was higher by Rs 10 at Rs 2350, without upcountry expenses. In the ready business, the cotton prices were at Rs 2275-2400 in Sindh and in Punjab Rs 2375-2400. Phutti prices also gained modestly, in Sindh was up at Rs 1050-1105, in Punjab at Rs 1100-1125, dealers said.
According to the market sources, mills were not hesitating in making fresh deals and were buying cotton even at the higher rates to meet the near-term requirements.
Continued rise in the New York cotton market and confusing report about the local cotton production size were the factors keeping the prices on higher side, they said.
FOLLOWING DEALS WERE REPORTED: 200 bales of cotton from Daur at Rs 2325, same figure from Mirpurkhas at Rs 2225, 400 bales from Tando Adam at Rs 2300, 200 bales from Sakrand at Rs 2350, 2500 bales from Bahawlpur at Rs 2400, 400 from Rajanpur at Rs 2400, 200 from Dera Gazi Khan at the same rate, same figure from Khanpur at the same level,400 bales from Layyah at Rs 2390, 200 bales from Bahawal Nagar at Rs 2400, 600 bales from Rahim Yar Khan at Rs 2400, 200 bales from Vehari at Rs 2390 and 200 bales from Sahiwal 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 2350.00 50 2400.00
Equivalent-------------------------------------------------
40 Kgs 2518.00 50 2568.00
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