| Some trading takes place on cotton market as prices firm up KARACHI (February 14 2004): Some trading in cotton was marked as prices firmed locally and got a boost in New York cotton market futures, relevant sources said on Friday.
The official spot rate of grade III cotton was unchanged at Rs 3175 without ST and upcountry expenses.
In New York cotton futures, sharp jump was noted in both March and May contracts. The former gained 1.48 cents to 66.42 and May 1.72 cents to 68.66 cents a pound.
Sources said the rising world rates cautioned buyers who restrained from buying to watch further development on the prices front.
Following deals were noted on Thursday: 800 bales of Upper Sindh, Ghotki, DRK, Rohri MPM, KPM at Rs 3200 and Rs 3300; 1000 bales of RYK at Rs 3300; 1000 bales of KNP at Rs 3300; and 800 bales of SDK at Rs 2725.
Courtesy Business
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