Cotton prices came under pressure yesterday influenced by falling world cotton prices because of higher production forecast by almost all cotton producing countries.
Although lint prices started to move higher immediately after Trading Corporation of Pakistan (TCP) began its procurement operations late last week, it seems to have now started to flatter due to falling world cotton prices.
According to market reports, the TCP has so far entered into purchase contracts for around 250,000 bales of quality lint from ginners.
The TCP operations did initially helped cotton prices to stabilise but now influenced by falling world prices once again came under pressure.
