Trading Corporation of Pakistan (TCP) has so far procured more than 403,600 bales of cotton from ginneries in Sindh and Punjab. According to the TCP here on Monday, these bales were procured from Nawabshah, Sukkur, Rahim Yar Khan, Multan, Bahawalpur, Harroonabad, DG Khan, Sahiwal, Vehari and Dera Allahyar Khan.
The corporation has been aggressively buying cotton in the country and will continue to purchase lint cotton of Grade Box III at the government's prescribed rate of Rs 2,314 per 40 kilograms (Rs 2,159 per maund).
Of the total, the TCP procures 262,800 bales from Punjab and 136,800 bales from Sindh while 4,000 bales Dera Allahyar in Balochistan.
On Monday, the TCP entered into contracts for 10,700 bales of cotton with ginners in Punjab and Sindh.
Meanwhile, about 117,300 bales of the total contracted cotton from ginners have reached the TCP's Karachi and Multan godowns.
The TCP said that aggressive buying had not only helped in arresting the declining trend in cotton prices, but phutti prices had now started to rise to the benefit of the growers.
Comments
Comments are closed.