Cotton Prices: Sindh govt convenes meeting

KARACHI: The Sindh government has convened a meeting to discuss support prices for cotton as a measure to stabilise cotton prices in the country, sources said on Wednesday. Stakeholders including Sindh Chamber of Agriculture, Sindh Abadgar Board, Pakistan Cotton Ginners Association, Trading Corporation of Pakistan and the Sindh Agriculture Department have been invited to attend the meeting. The meeting is likely to recommend a support price for cotton to the federal government to stabilise the dwindling cotton prices in the country, officials said. Cotton prices have declined from their peak of Rs 15,000 per maund last year to Rs 5,000 this August after a bumper crop, combined with last year’s accumulated stock, a leading broker said.

Published in The Express Tribune, August 4^th, 2011.