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

Pic: Shutterstock

Textiles | On 24th Sep 2020

IDH-Apparel Impact Institute launch Tier 1 Vietnam project

The Netherlands-based IDH-the Sustainable Trade Initiative and the...

Pic: UC SANTA BARBARA

Textiles | On 24th Sep 2020

US scientists assess synthetic fibres pollution on land

Scientists in the US have said that the volume of synthetic...

Pic: Bushell Investment Group

Retail | On 24th Sep 2020

Bushell Investment Group acquires shoe retailer ALDO UK

The Bushell Investment Group (BIG) has acquired the UK arm of the...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Textile industry, Head honchos

Textile industry
Head honchos

Clothes are no more bound by gender

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Mukesh Bansal,

Mukesh Bansal

Vardhman is one of the largest integrated textile manufacturers of India...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


September 2020

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


Advanced Search