TCP Disposes 28,800 Cotton Bales

KARACHI: Trading Corporation of Pakistan (TCP) has made 28,800 bales of cotton of various grades to local buyers and exporters.

A TCP official said here Tuesday that the offer was launched on 9 October and 19 October 2009 at the registered office of TCP.

He said that 23,400 bales were sold to local parties at prices ranging between Rs 3309 to Rs 3530 by 5400, while maund bales to exporters at 49.59 cents and 50 cents per pound.

TCP had received 35 bids from local buyers, citing local selling prices of between Rs 2777 and Rs 3527 per maund and two tenders for the export price in the range of 49.08 to 49.58 cents a pound.

Note that the TCP has purchased 192,700 bales of cotton under the instructions of the government to stabilize the market. The corporation has so far sold 137,100 bales.

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