Trading pace maintained on cotton market

Cotton market maintained overnight pace on Friday though spinners were held up due to low yarn sales, relevant sources said.
The official spot rate of cotton was reduced by Rs 25 to Rs 2625 without Rs 50 upcountry expenses.
Good quantity of cotton changed hands at prices ranging between Rs 2125 to Rs 2400.
In New York, October was up 0.48 cent to Rs 47.28 and December up 0.51 cent to 47.85 cents a pound.
Sources said that trading was likely to remain slow due low demand for yarn.
Following deals were noted: 2900 bales of Mehrabpur at Rs 2375; 207 bales of Ghotki at Rs 2400; 100 bales of Mathelo at Rs 2500; and 400 bales sold by exporters to mills at Rs 2125.

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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      2625.00        50                    2675.00

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

40 Kgs         2813.00        50                    2863.00

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