Home / Knowledge / News / Textiles / TCP awaits announcement of cotton support price
TCP awaits announcement of cotton support price
13
Nov '08
Recently, it was seen that cotton organizations and related associations were urging Trading Corporation of Pakistan (TCP) to start procuring cotton so as to stabilize the prices.

Reportedly, Ministry of Finance has already granted Rs1 billion to TCP for lifting cotton under the implementation of Cotton Policy through market intervention and ensuring fair returns to cotton growers.

However, Mr Muhammad Akram Chaudhry, Chairman of Pakistan Cotton Ginners Association (PCGA), told Fibre2fashion, “TCP has not yet started purchasing cotton because support prices have not been announced.”

Ministry of Food, Agriculture and Livestock (MINFAL) is expected to sort out administrative and price mechanisms in next few days, and give TCP a nod to kick off its operations.

Experts said, 75,000 bales can be purchased by TCP with the Rs1 billion funds. But, pressure on growers will be eased only if around 100,000 more bales are lifted.

Mr Chaudhry further informed, “A meeting has been schedule today at our headquarters in Multan, where the situation of cotton industry will be discussed and support prices will be fixed accordingly.”

Official data showed current price level of the phutti is around Rs1,500-1,600 per maund, while that of cotton is in the range of Rs3,200 per maund.

The Chairman stated, “We have demanded, on behalf of the growers, that support price for phutti should be not less than Rs1,800 per 40 kilograms and that for cotton is 3,500 per maund.”

Fibre2fashion, News Desk - India


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Top executives
Textile industry

The foremost issue is bridging the skill gap

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search