No change of outlook on cotton market

Lacklustre business was seen on the cotton market on Monday as the ginners did not show any flexibility in their attitude towards prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2600, they added.
According to the market sources market players were a little disturbed and hoping for a number of incentives in the Textile packages. The mills resorted to panic buying to cover their immediate needs in the last sessions. But, the ginners were not ready to lower the asking prices, they said. The rains in Sindh and Punjab encouraged the ginners not to change their strategy in respect of prices.

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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      2600.00        50                    2650.00

Equivalent-------------------------------------------------

40 Kgs         2786.00        50                    2836.00

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