No business was seen on the cotton market on Monday as city received first rains after long time, dealers said. The official spot rate was unchanged at Rs 8,700, they added. Prices of seed cotton in Sindh and Punjab were at Rs 3000-3700 and in Balochistan, rates of seed cotton were at Rs 3200-3700, they said.

According to the market sources, most of the participants were on the sidelines ahead of announcement of mini budget and partly because of heavy rains.

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The KCA Official Spot Rate for Local Dealings in Pakistan Rupees

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FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"

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                                    MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL

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Rate              Ex-Gin   Upcountry   Spot Rate    Spot Rate    Difference

                    For      Price     Ex-Karachi  Ex. KHI. As   Ex-Karachi

                                                  on 19-01-2019

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37.324 kg         8,700       160         8,860         8,860           NIL

Equivalent

40 kgs            9,324       171         9,495         9,495           NIL

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Copyright Business Recorder, 2019