2800 bales trading reported on cotton market

Two deals were finalised on the cotton market, both at higher than the spot rate, when the market opened on Monday, the relevant source said.
The ginners did not raise the spot rate as New York cotton futures are keeping low profile, but asking prices in ready were above spot rate by about Rs 100. The spot rate remained unchanged at Rs 3025, without ST and upcountry expenses.
Cotton futures from New York had not landed when the column was filed.
The two deals struck were of 600 bales of Mehrabpur at Rs 3100 and 2200 bales of Haroonabad at Rs 3075.

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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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                                        Ex-Gin Prices          Up-country             Spot Rate Ex-Karachi

Rate                   Ex-Gin             Including            Expenses                          Including

for                    Price            Sale Tax @ 15%                                     Sales Tax @ 15%

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37.32 Kgs             3025.00             3478.75                  50                              3528.30

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

40 Kgs                3242.00             3728.30                  50                              3778.30

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