TCP awaits announcement of cotton support price
Nov '08
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
Interviews View All
Md Hanifur Rahman
Aman Group
The level of understanding the job role and organisational requirements...
Top executives
Textile industry
The foremost issue is bridging the skill gap
Top executives
Indian retail players
Walmart's acquisition of Flipkart endorses the humongous opportunities in...
New Delhi-based Jogindra Industries Private Limited provides an assortment ...
SPGPrints is a global provider of integrated solutions for rotary screen...
Mirrorsize is a US-based start-up that provides artificial intelligence...
Giulio Cesareo
Directa Plus
UK-based Directa Plus is one of the largest producers and suppliers...
Keith McMillen
Bebop Sensors
Bebop Sensors' smart fabrics allows for a new level of interaction between ...
Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers
Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...
Amiben Shroff
Shrujan
From its modest beginning in the late 1960s, Shrujan has grown into a...
Akta Adani
India Boulevard
India Boulevard is a San Francisco-based curated fashion marketplace that...
Karan Arora
Karan Arora
Bridal couture created with rich Indian heritage, exquisite craftsmanship...
Leave your Comments
Recommended
Want to know what happened in the textile world this week? Watch now!
news category
Related Categories:
