January 9, 2003	Thursday	Ziqa’ad 5, 1423

KARACHI, Jan 8: Vice-chairman, Pakistan Cotton Ginner’s Association (Bahawalpur Circle) Haji Muhammad Ibrahim has urged the Trading Corporation of Pakistan (TCP) to intervene in the market as the second buyer to keep prices stable in the cotton market.

In a statement here on Wednesday, Ibrahim contested the cotton production estimates of Pakistan Cotton Crop Committee.

He said All Pakistan Cotton Ginners Association (APGGA) has estimated cotton production at 9.7 million bales despite substantial increase in crop output over the last year during the first months of the season.

The increase in production in the early months of the season was the result of early picking and arrivals of cotton in the market.

The ginners are convinced that upward trend in cotton production would not continue any more, which could hit overall production figures.

He noted that major chunk of crop has already arrived in the market and only 10 per cent of total production was left with the growers.—APP