Official spot rate was down on the cotton market on Monday as buyers were not ready to pay above the psychological level, dealers said.

The Karachi Cotton Association (KCA) brought down spot rate by Rs 200 to Rs 9,500.

Seed cotton prices in Sindh and Punjab were at Rs 4100-4300, they said.

In ready business trading activity came down as some 20,000 bales of cotton changed hands at between Rs 9,300-10,000, they added.

According to some analysts trading activity came down as buyers were not ready to pay over the psychological level, so it is likely that the prices may go down slightly in the coming days.

Other dealers said that the ginners, however, were worried under the circumstances and may not get the desired profits in days to come.

If, the prices come down in the NY cotton market, rates are likely to drift lower in the local market, they guessed.

The following deals were reported : 600 bales of cotton from Mir Pur Khas sold at Rs 9500-9850, 500 bales of cotton from Nawabshah at Rs 9500, 800 bales of cotton from Shahdad Pur at Rs 9500-9600, 400 bales of cotton from Tando Adam at Rs 9600, 800 bales of cotton from Khair Pur at Rs 9700-9800, 1000 bales of cotton from Upper Sindh at Rs 9700-9800, 200 bales of cotton from Jahanian at Rs 10000, 1400 bales of cotton from Shadan Lund at Rs 10000, 1000 bales of cotton from Rajan Pur at Rs 10000, 600 bales of cotton from Ali Pur at Rs 10000, 400 bales of cotton from Jatoi at Rs 10000, 1000 bales of cotton from Fazil Pur at Rs 10000, 800 bales of cotton from Dera Ghazi Khan at Rs 9800-9900, 400 bales of cotton from Layyah at Rs 9800, 400 bales of cotton from Gaili Wal at Rs 9800, 3000 bales of cotton from Rahim Yar Khan at Rs 9500-9800, 200 bales of cotton from Marot at Rs 9800, 800 bales of cotton from Fort Abbas at Rs 9500-9800, 800 bales of cotton from Jalal Pur at Rs 9500-9800, 400 bales of cotton from Mian Channu at Rs 9500, 400 bales of cotton from Sadiqabad at Rs 9500, 200 bales of cotton from Chichawatni at Rs 9500, 400 bales of cotton from Bahawal Pur at Rs 9300 and 200 bales of cotton from Yazman Mandi at Rs 9300.

=========================================================================== The KCA Official Spot Rate for Local Dealings in Pak Rupees --------------------------------------------------------------------------- FOR BASE GRADE 3 STAPLE LENGTH 1-1/32" --------------------------------------------------------------------------- MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL =========================================================================== Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference For Price Ex-Karachi Ex.<br/><br/>KHI.<br/><br/>As Ex-Karachi on 04.12.2010 =========================================================================== 37.324 Kgs 9,500 120 9,620 9,820 -200 --------------------------------------------------------------------------- Equivalent --------------------------------------------------------------------------- 40 Kgs 10,181 120 10,301 10,515 -214 ===========================================================================

Copyright Business Recorder, 2010

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