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TCP to float 100,000 cotton bales soon
23
Jan '09
The Trading Corporation of Pakistan (TCP) has decided to float a tender for 100,000 bales of uncontaminated cotton on January 27; this was revealed by sources from TCP.

This step is being taken to support the market price besides growers and ginners would get much better price for their harvest.

While speaking to Fibre2fashion.com, Mr Ghulam Rabbani, one of the Directors of Karachi Cotton Association (KCA) said, “Currently TCP has around 1,39,000 cotton bales at its Karachi warehouse while in Multan the national entity has around 25,000 bales.”

It is expected that the asking price for this cotton would be around Rs3,800 per maund while TCP was buying lint of different grades for about Rs3,211 per maund.

Mr Ghulam Rabbani further stated, “This contamination free Grade 3 cotton produced in Pakistan is of high quality with staple length of one – one-thirty two. This is a technical move to boost the cotton sector of the country. Lots of millers are welcoming this step as now they can get clean cotton directly from TCP.”

Experts suggest that TCP would provide appropriate price of the produce to save growers from financial losses.

Fibre2fashion News Desk - India

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