Lacklustre trading was seen on the cotton market on Monday where almost all participants were busy in exchanging Eid greetings, dealers said. The official spot rate was unchanged at Rs 2350, without upcountry expenses. Cotton Sindh type was trading at Rs 2250-2350 and Punjab verity was at Rs 2375-2400.

Phutti prices in Sindh were at Rs 1025-1075 and in Punjab was at Rs 1100-1125, dealers said.

At the first opening session after long week-end, not a psychical business reported as many traders kept on the sideline in the absence of buying interest, dealers said.

They said that phutti from Punjab gained modestly on improved demand due to better quality, 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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Copyright Business Recorder, 2005