Cotton spot rate further cut: no trading reported

Spot rate was further slashed on Monday though spinner showed not much interest in buying cotton, relevant sources said.
Submitting to the dictates of situation the ginners have started lowering cotton prices to bring some pace in trading. The spot rate of grade III cotton was reduced by another Rs 25 to Rs 3000 without Rs 50 upcountry expenses.
No fresh deal was reported by DMR. It reported two deals of 1000 bales of Bahawalpur at Rs 2850 and 200 bales of CSI at Rs 2900.

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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             3000.00                 -                  50                                3050.00

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

40 Kgs                3215.00                 -                  50                                3265.00

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