KARACHI, July 28: The Trading Corporation of Pakistan (TCP) on Friday sold 8,000 bales of cotton to local buyers at rates ranging between Rs2,355 and Rs2,376 per maund and gave a counter-offer for the remaining 10,000 bales.

According to the TCP, the corporation had accepted highest offers for 2,000 bales of grade-II, 1-1/16 at Rs2,376 per maund, 2,000 bales of grade-III plus, 1-1/16” at Rs2,361 per maund, 2,000 bales of grade-III, 1-1/16” and 2,000 bales of grade-III, 1-1/32” at Rs2,355 per maund.

The TCP price evaluation committee also gave a counter-offer to two highest bidders for 4,000 bales of grade-III, 1-1/16” cotton and 6,000 bales of grade-III, 1-1/32” at Rs2,355 per maund.

The tender was floated on July 22, while bidding was held on July 27. The TCP had received 18 bids for export and local sale.

—APP