Cotton trade: KCA concerned over alternative buyers
The Karachi Cotton Association (KCA) on Tuesday expressed concern over reports that the government is considering inducting the Trading Corporation of Pakistan (TCP) as an alternative buyer in the market to stabilise cotton prices, officials said.
KCA said that any intervention by the public sector in the cotton market would negate the policy of free trade.
Officials said that KCA has always advocated a free trade policy in cotton making sure that it is exported and imported freely without any quantitative and qualitative restrictions in order to ensure international price of cotton to the grower and provide a level playing field to all sections of the cotton economy in the country.
The KCA said that it believes that under the demand and supply position, the market forces themselves determine the price level and exportable surplus.
The KCA urges the government to continue the existing free trading policy of cotton for the benefit of all sections of the cotton trade and to ensure efficient marketing of cotton in the local and international market.
Published in The Express Tribune, August 3rd, 2011.
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"Level playing field"? You have got to be kidding me !! Just look at the volatility in cotton prices in the last two years and you can tell that its not a free trade policy that these guys need, they need more regulation to keep their unbridled greed in check!