In the ready business, cotton in Sindh traded at Rs 2250-2400 and in Punjab quoted at Rs 2375 and Rs 2400.
Phutti prices in Sindh stayed put at Rs 1025-1075, in Punjab also retained the overnight level at Rs 1050-1100, dealers said.
Brokers said that the Pakistan Cotton Ginners Association (PCGA) has released the fortnight phutti arrival figure, ending October 31, which was nearly 473,700 bales and showed a significant fall against the last year's figure of 620,000 bales.
The PCGA latest figure is also giving an impression that the prices might depict firm trend in the coming days, dealers said. The Trading Corporation of Pakistan (TCP) also issued tender of 50,000 bales of cotton and it will open on November 10, they said.
ACCORDING TO THE REUTERS: the New York Board of Trade's key December cotton contract increased by 0.24 cent to end at 52.11 cents a lb., moving from 51.90 to 52.70 cents.
It was an inside day as the range held within Monday's 51.57 to 52.75 cents band. March added 0.29 cent to 54.78 cents and the rest gained from 0.15 to 0.60 cent.
A solo deal 200 bales of cotton was reported from Muridwala at R2395, dealers said.
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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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