Cotton prices firm
1/31/2012 11:33:05 AM
KARACHI: Pakistan cottonprices remain firm as exporters and spinners were less interested due to decline in business activities in international and local market.
Expected intervention by Trading Corporation of Pakistan (TCP) was not welcome by Ministry of finance and commerce as both authorities are in favour of letting market forces determine cotton prices. The Karachi Cotton Association (KCA) official spot rates were intact at the level of Rs 5,800 per maund. The rates of seed cotton in Sindh were Rs 1,800 and Rs 2,450, while in Punjab, cotton rates were Rs 2,000 and Rs 2,750 dealers said.
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