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(From Business Recorder)
Byline: RECORDER REPORT
Spot rate dropped modestly on cotton market on Saturday though the mills continued buying ahead of the Pakistan Cotton Ginnners Association (PCGA) report, dealers said.
The Karachi Cotton Association (KCA) official spot rate was lower by Rs 25 to Rs 2450, without upcountry expenses. Thus, the it lost Rs 100 during the week, they added. The seed-cotton was trading at Rs 1050-1100 in Sindh and at Rs 1175-1225 in Punjab, they said.
Market sources said that the PCGA report was keenly awaited by the mills and ginners, expected to be release next week as the figure may help the market players in …