The official spot rate was unchanged at Rs 2350, without upcountry expenses. Cotton prices in Sindh showed slight improvement at Rs 2275-2400 and Punjab cotton followed suit at Rs 2400-2425.
Phutti prices in Sindh were at Rs 1050-1125 and in Punjab at Rs 1100-1125.
According to the market sources, the Trading Corporation of Pakistan (TCP) has received bids by the exporters below the 44 cents per pound.
Mills were active, despite the higher prices, to meet the forward demand, dealers said.
The New York Board of Trade's key December cotton contract closed with 0.55-cent losses at 50.41 cents a lb., after dealing in a lower range from 50.40 to 51.30 cents.
March fell 0.41 cent to finish at 53.60. The rest settled with losses from 0.20 to 0.42 cent.
FOLLOWING DEALS WERE REPORTED: 800 bales of cotton from Sanghar at Rs 2225, same figure from Hasilpur at Rs 2400, 1000 bales from Bahawalpur at the same rate, 600 bales from Vehari at the same rate, 600 bales from Khanewal at Rs 2400, 400 bales from Hyderabad at 2385, 600 bales from Jhang at Rs 2375, 1000 bales from Gojra at Rs 2400, 400 bales from Sahiwal at the same rate.
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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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