In the ready business, the cotton prices were at Rs 2250-2375 in Sindh and in Punjab unchanged at Rs 2375-2400.
Phutti prices in Sindh stayed put at Rs 1050-1105, in Punjab retained the overnight level at Rs 1100-1125, dealers said.
General trend in the market was firm as ginners were not keen to lower their asking prices, dealers said. Cautious buying was seen by the mills as they indulged in forward buying to keep their business running in the pre and post-holiday sessions due to Eid-ul-fitr holidays.
They also said that ginners were enjoying the present circumstances and trying to hold the cotton stock to gain more profits days ahead. On the other hand, under the circumstances, mills and spinners have no option just to keep buying to keep themselves away from the confusions, arising from the conflicting reports about the size of crop.
They also said that the Trading Corporation of Pakistan (TCP) was to open tender of 50,000 bales of cotton on Tuesday.
The New York Board of Trade's key December cotton contract eased 0.46 cent to close at 54.03 cents a lb., dealing from 53.75 to 54.65 cents. March shed 0.26 cent to 56.16 cents.
Except for one contract, back months lost from 0.07 to 0.35 cent.
FOLLOWING DEALS WERE REPORTED: nearly 200 bales of cotton from Sanghar sold at Rs 2275, same figure from Noabad at Rs 2325,800 bales from Gajjo at the same rate, 1400 bales from Kabirwala at Rs 2400, 1000 bales from Burewala at Rs 2375-2400, 400 bales from Shujabad at Rs 2400, same figure from Lodhran at the same rate, 800 bales from Jalalpur at the same rate and 2000 bales from Rahimyar Khan at Rs 2375-2410.
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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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